Are you eligible?
Most businesses are entirely unaware of their eligibility to claim Research and Development (R&D) tax credits and are therefore oblivious of the funds that can be reclaimed though the scheme.
At Compass Accountants, we have experience of identifying huge opportunities that many business owners are entirely unaware of.
Our confidence and expertise in identifying these opportunities means assessing your eligibility to claim comes at absolutely no cost or risk to you.
Our specialist knowledge enables us to identify opportunities, quantify the amount of your claim, as well as submit technical reports and claim applications to HMRC, before collecting any cash that may be due to you.
SO HOW DOES IT WORK?
Stage 1 We undertake a review of your eligibility to make a claim AT NO COST TO YOU. This may involve a brief telephone call with you to see if there is a basis to moving on to Stage 2.
Stage 2 We visit your premises to discuss your business and its activities in more detail to establish more clearly whether your business is eligible and to quantify the amount of your claim – still at absolutely NO COST TO YOU!
Stage 3 We enter into an agreement with you where we agree our fee structure with you which is contingent on us getting money back for you – this means this is at NO COST TO YOU until we get your money back from HMRC!
Stage 4 We undertake work to establish and document which activities in your business are eligible and document the relevant costs. We complete a full technical report including details of your claim and the financial costs associated. If we are unsuccessful with your claim there will be NO COST TO YOU.
Stage 5 We then submit your claim and progress this with HMRC dealing with any queries they may have. Still at NO COST TO YOU!
Stage 6 We progress payment from HMRC and pay you the balance after deducting our agreed fee and this is how and when we get paid!
You can only submit a valid claim for your two latest financial years – the opportunity to claim for costs in previous years may be lost if you do not act quickly. For further information Contact Kerry Daly, your R&D specialist at Compass Accountants on 01329 844145
Marine Concepts- Reaping the rewards of innovation
Marine Concepts based in Lee on Solent in Hampshire, carries out a vast range of marine fabrication projects. Compass Accountants took the time to review and assess eligibility for the claim.
Terry Stubington, director of Marine Concepts explains, “Compass Accountants were able to swiftly provide a member of their team, who had a strong background in engineering and a history in filing such claims. It made a great difference to have the outside expertise required to identify and explain which processes were most appropriate for the application,” said Mr Stubington. “We were unaware of exactly how much we were eligible for. Compass’ experience was a great benefit to us. The whole application process was then left to them. We just sat back and waited for a response from HMRC.”
Compass assisted with the full development and administration of the project, and presented the information and claim application. Within a number of weeks, the claim was approved and Marine Concepts received a substantial tax refund from HMRC.
“We were absolutely delighted with the result of our application. We would recommend Compass to any other organisations that are considering applying,” said Mr Stubington.
“Having a company of experts on your side to illustrate the specific areas you are entitled to claim for -as well as deal with technical reports and the process of application- made the whole experience of claiming as simple as possible.”
“We were absolutely delighted with the result of our application. We would recommend Compass to any other organisations that are considering applying."
If you think your organisation may be eligible for Research and Development Tax Credit, contact Kerry Daly now on: 01329 844145.