There are now more HMRC challenges to and testing of R&D claims than ever before, and new financial pressures to verify that you are not missing out on important government support for your R&D function. So it may be time to rethink your approach to R&D claims so that you can be certain they are right first time, every time.
BDO provides specialist technology and expertise to ensure your claims are robust, complete and on track.
Use BDO’s Knowledge Engine to drive your claims
Our Knowledge Engine connects our internal systems with public APIs to derive advanced data analytics and underpins many of our technology tools. This allows us to offer digital solutions for our clients to support claim quality, security and efficiency. It also provides insight into risks and opportunities for your claim specifics (e.g. R&D sector, R&D resource type), and across your wider tax compliance profile.
Benchmark your claims
Our easy to use Benchmarking Tool provides a risk rating and indicative estimate of claim benefit. You will receive a Benchmark Report from which we can rethink your claim approach with a deep dive into:
- Why your R&D tax relief benefit differs from your competitors or the industry sector average
- The likelihood of your claims being queried by HMRC or investors on a listing, fund raising or exit
- The factors that influence your R&D risk profile in order to work on mitigating the risks they give rise to
- Specific places where it is likely you have underclaimed on R&D costs
- Claim methodology and project analysis to give you insights into a robust R&D process for the future that both reduces your risks and enhances your returns.
For large businesses, risk reviews of R&D claims can form an important part of your SAO annual assurance procedures for tax compliance – reviewing and benchmarking your claims through a third party helps to demonstrate to HMRC that you are taking your tax compliance seriously.
Efficient processes through our secure Client Portal
Using our dedicated secure portal for your R&D claims allows us to work with your team, leveraging data capture processes to facilitate collaboration, due diligence and reporting. The portal gives your management team dashboards to establish delivery milestones and track claim progress.
A respected forensic approach
Use of these specialist R&D tools underpins our forensic approach to identifying claims and analysing qualifying costs, which is highly respected and the basis of our strong relationship with HMRC. To put it simply, if BDO are involved in your R&D claim, it will be technically robust and the quality of the claim report will make HMRC’s processing your claim quicker and easier - safeguarding the future flow of financial support to your business.
If you have prepared your own claim and HMRC has raised an enquiry into it, we can carry out a forensic review of the claim and work with our Tax Dispute Resolution experts to help resolve the R&D enquiry.
For help and advice on rethinking your approach to R&D claims, please contact Radeep Mathew.
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