Claiming R&D tax relief with Cornelius Consultancy
A calculation and breakdown of the qualifying costs included
within the claim
Specialist Advisory
We aim to build long-lasting relationships with our clients and therefore, as part of our fee we provide additional specialist advice in relation to the R&D regime. This includes:
Advising on the development and implementation of R&D record keeping processes.
Working with your accountant to correctly account for the R&D tax incentive within your financial statements.
Reviewing grant application wording to avoid unnecessarily reducing the value of your R&D claim from being unnecessarily restricted.
Cost benefit analyses of different staff and director remuneration strategies.
Advice in relation to commercial contracts with third parties in respect of the contracts’ implications for your R&D claim.
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The basics
A Research & Development (R&D) tax incentive claim can be made in relation to your two most recent complete accounting periods. It must be filed to HMRC accompanied by a corporation tax return (Form CT600) and corporation tax computation, and detail the total qualifying costs identified and the tax treatment of these costs.
To reduce the probability of further questions from HMRC in relation to the claim, it is best practice to provide the following information alongside your corporation tax documents:
Bespoke Service
Fundamental to our approach is the recognition that every business is unique and the service we provide should acknowledge this. We pride ourselves in offering our clients a level of flexibility that our competitors are unable to match and do not believe in rigid processes or pro-formas; instead, we will always seek to develop a tailored approach bespoke to you and your business.
After undertaking an initial discovery phase where we will establish your eligibility to claim and gain an understanding of you and your business, we will then work with you to prepare and submit your R&D claim in a manner and to a timeline which places your best interests at heart. We are happy to work with any third parties who you consider should be involved in the process.
Our service includes the entire lifecycle of your R&D claim; be it the required data and information gathering required to prepare your claim documents, the management of any correspondence with your accountants or HMRC in relation to the submission of your claim, or the administration of any payment to be received.
Why Cornelius Consultancy?
At Cornelius Consultancy we specialise in working with businesses to prepare and submit robust and optimised R&D claims. We have years of experience in working alongside HMRC and understand how best to translate the complex rules and regulations of the R&D regime to you, and then relay your information to HMRC in the most appropriate manner. This combined with our broader knowledge of taxation and accountancy ensures that we can provide specialist advice to you on a wider range of matters which may affect your R&D claim.
Enquiry Protection
Additionally, we are so confident in the quality of the R&D claims we prepare, that in the unlikely event HMRC should have any additional queries in relation to your R&D claim after it has been submitted, we will, as part of your standard fee, communicate with HMRC on your behalf and not take any payment from you until the claim has been successfully processed.