How Do I Claim Tax Relief For R&D?
The process of making a claim for UK R&D tax relief does not have to be onerous. There are a relatively small number of steps required, and as long as the right people, and right information, are available then the process itself can be undertaken in a matter of weeks in all but the most complex organisations. There are four main phases of work:
Initial assessment of which projects and activities may be eligible for relief, undertaken with the technical experts within your business
A set of technical discussions, undertaking analysis and narrating activities to show how they satisfy the BIS criteria for eligibility
Gathering of cost data, working out the most appropriate methodology for the claim and undertaking the calculations
Compilation of the formal R&D report, bringing together technical narratives and cost data to support the claim