Update: R&D Claims

Dear all,

Please read the following post from Stuart Sheldrick, Director at Chelmsford:

“Even with the recent changes to R&D claims Reforms to R&D tax reliefs – GOV.UK (www.gov.uk) making R&D claims can still be beneficial for clients, and therefore as part of preparing accounts or interacting with clients, if you see or hear a client could be undertaking some form of R&D project, we need to consider if there could be a claim.

If you are not sure about the rules in relation to R&D tax relief please liaise with your tax team who will assist or contact our preferred supplier Why choose R&D Consulting To Help With Tax Credits? (randdconsulting.co.uk), who are always happy to liaise with clients to confirm if there is a qualifying project.

We must also consider clients businesses change and evolve quickly and therefore if they do not qualify one year, this does not mean they may never have a claim, so we need to be vigilant at spotting opportunities to add value to our clients, even when the industry sector they trade in does not always lend itself to R&D. Many clients may have a claim even though you wouldn’t expect it, so always best to check if in any doubt!

One of the most important recent changes is the deadline for making new claims which is changing to 6 months after the year end, so it is key we are speaking to potentially affected clients by then.

Any queries please let me know”.

Stuart Sheldrick

Director