What To Look For In An Online R&D Tax Credits Claim Portal
14th Sep 2018
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The R&D tax relief scheme was launched in 2000 by the British government. It is a generous scheme allowing businesses to claim tax relief at a rate of up to 33.3% on their qualifying R&D expenditure, which many receive in the form a cash rebate.
Due to the complex nature of the scheme, most companies require specialist assistance to ensure they receive their full entitlement. In response, a niche industry of R&D tax relief specialists have emerged offering to provide expert advice, guidance and claim management.
These companies typically charge their services based on a percentage of the corporation tax savings gained for the client and, therefore, often require a minimum claim size to make the offering commercially viable for the consultancy. As a result, some of the smaller SMEs could not fully benefit from specialist R&D Tax Credit advice, meaning many were having to do it themselves. This often meant R&D tax credit claims were rejected by HMRC or not fully maximised. Not great for anyone.
To help address this pain point for many SMEs, In late 2017, Tax Cloud released the first online R&D tax credits claim portal in the UK. This spawned a wave of competing businesses launching similar offerings by mid-2018.
So, with that in mind, how do you decide which R&D tax credit claims portal is the most appropriate for your business?
This article will help you understand what to look for when selecting an R&D tax credit claims portal. Below we explore some of the essential features that will ensure you experience a smooth, successful and fully maximised claims process.