General Questions

Your accountant is a general practitioner who would not necessarily have the core skills to put together a detailed, robust, concise report in the format that HMRC require. We have a team of experts who are multi-skilled in various manufacturing technological and corporate tax backgrounds to comply with R&D tax credits legislation for your business to claim tax credits. We work along side many accountants in the United Kingdom to claim R&D tax credits. We work with your accountant, not against him. In most cases it is your accountant that triggers your R&D tax claim.

There is a general belief from companies who are yet to claim R&D tax credits that any scheme that involves receiving a repayment from HMRC or a tax credit applied to an outstanding liability has to be too good to be true that there is going to be a catch somewhere along the line. Please be reassured that R&D tax credits are not too good to be true. R&D tax credits were setup by the government over 16 years ago as an incentive for businesses to invest in R&D which drives economic growth to fuel the economy. Its designed to maintain and expand investment for innovation and new product development, there is no kickback from HMRC, they do not give with one hand and take back with the other.

A question which is at the top of everyone’s list. Yes, it’s a fact that HMRC do carry out enquiries and investigations on 1000’s of businesses every year for all self assessed tax branches. Any business can be notified of being a subject of an enquiry or investigation but its just the reality of being in business. We will only submit a claim if it is wholly compliant within the R&D tax legislation remit. So remember if it does not comply, it will not be in the report. This is why at TRS, our experts will tell you what is claimable and what is not. We adhere to stringent HMRC R&D tax guidelines where we know that is when we submit the claim, the information is accurate and prepared in the format that they want.

Yes! So long as the commercial property is still yours or leased by you, it’s achievable. We can undertake the surveying work for you, so you don’t miss out on Capital Allowances.

No. They are not taken into consideration when it comes time to value your property. Due to changes in the Capital Allowances act 2014, all positions must be fully explored on the property, should you wish to sell. Having all your Capital Allowances documented prior to selling will enhance the value that you are able to achieve on the sale.

This is not the case making a claim will still be valuable, when you return to profit.