R&D Tax Relief
Author
Discussion

Hobo

Original Poster:

6,114 posts

263 months

Thursday 26th November 2020
quotequote all
I am interested in learning more about this from a point of view of submissions on behalf of companies, so wondered if anyone knew on any online courses available that they could recommend.

I want to fully understand what can be claimed, the basis of qualification, how the calculations are made, etc, etc.

Much appreciated.

bucksmanuk

2,343 posts

187 months

Thursday 26th November 2020
quotequote all
Talk to an accountant (or similar) who has done this BEFORE for others SUCCESSFULLY. I cannot stress this enough...

Don’t let them learn “on the job” sorting out YOUR R&D tax issues. Don’t let them fob you off with:-

“Well - we’ve never done it before, but we can always ask….”
“We know someone in another practice who has done something like this, so we’ll ask them”
“It can’t be that difficult – can it?”

Guess how I know, I stopped them before they got any worse - you need to talk to the person who was the one who actually did it.

I know it sounds harsh, everyone has to learn somehow etc.… but when it’s YOUR hard earned being wasted because they don’t what they are doing because they are learning – it’s another matter.

StevieBee

14,318 posts

272 months

Thursday 26th November 2020
quotequote all
Tread carefully!

HMRC work on a 'pay-now, check-later' basis.

We employed a credible company with very good credentials and recommendations. With them we determined a case for a claim which was submitted and accepted. £22k! Happy days.

10 months later, HMRC review the claim and payment. Upshot is that they want the money back.

The company is fighting this on our behalf and are liable for a fair chunk if the appeal fails but still....


Jockman

18,257 posts

177 months

Friday 27th November 2020
quotequote all
StevieBee said:
Tread carefully!

HMRC work on a 'pay-now, check-later' basis.

We employed a credible company with very good credentials and recommendations. With them we determined a case for a claim which was submitted and accepted. £22k! Happy days.

10 months later, HMRC review the claim and payment. Upshot is that they want the money back.

The company is fighting this on our behalf and are liable for a fair chunk if the appeal fails but still....
I hear this story a fair bit. Be careful.

DSLiverpool

15,665 posts

219 months

Friday 27th November 2020
quotequote all
No problem with 3 claims using Leyton - cost a lot but I didn’t have to do much - no claw backs.

Hobo

Original Poster:

6,114 posts

263 months

Saturday 28th November 2020
quotequote all
Apologies if I was not clear. I am not looking for someone to appoint, I am looking for courses so that I fully understand what can and cannot be claimed, and the basis thereof.

db10

290 posts

280 months

Saturday 28th November 2020
quotequote all
I see errors in claims all the time. Mainly around whether a company is entitled to the enhanced small company relief or not because even specialists don’t understand the definitions particularly where private equity or venture capital firms are involved.

Grrbang

755 posts

88 months

Saturday 28th November 2020
quotequote all
Hobo said:
Apologies if I was not clear. I am not looking for someone to appoint, I am looking for courses so that I fully understand what can and cannot be claimed, and the basis thereof.
I think it was clear and the replies were trying to talk you out of DIY!

Never claimed myself but know that some dedicated R&D claims companies boast ~100% success rate. Can't speak for general accountants or DIYers.

Ean218

2,023 posts

267 months

Monday 30th November 2020
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I did all the legwork for our claim, writing out the basis of the work etc, our accountant charged £200 to add it into the CT computations and it all went through fine. That was a year ago and I have just claimed some more in the accounts just finished.

softtop

3,149 posts

264 months

Monday 30th November 2020
quotequote all
Hobo said:
Apologies if I was not clear. I am not looking for someone to appoint, I am looking for courses so that I fully understand what can and cannot be claimed, and the basis thereof.
spend with someone who knows what they are doing. It is more than knowing what's involved.