R&D Tax Credits
HMRC’s R&D Tax Credit scheme is one of the most attractive in the world, allowing companies to claim tax relief on qualifying R&D work for up to 2 previous accounting years – improving vital cash flow. Even loss-making companies can benefit.
However, many eligible companies either do not claim, under-claim or claim incorrectly, through a lack of understanding on their part of the complex detail of the scheme, and/or a lack of technical expertise on their advisor’s part. HMRC has the right to challenge claims and can claw back ineligible refunds for historical years.
MSC R&D has been successfully preparing claims for R&D Tax Relief since its inception in 2000 and has identified over £125m qualifying R&D expenditure to date.
MSC R&D does not expect and rely on the client to assess what R&D is eligible, as they will not be familiar with the rules of the scheme. Instead, it matches the right financial and technical expertise to a client’s business and drills deep into their development activity, preparing optimised and fully compliant claims with the minimum impact on the client’s time. It then works with the client’s accountant to submit the claim to HMRC.
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