My organisation prepares a R&D claim internally, but do I still need assurance that I am optimising my claim?
Our client is a Small-to-Medium Enterprise (SME) which is a leading developer of pharmaceutical technology.
The client has a small management team who are heavily involved in technology development. While realising the potential benefit of the claim was important to the business, the organisation needed to engage a service provider with an understanding of, and ability to work within, the financial constraints imposed by the size of the business.
The Deloitte approach
Armed with extensive experience of working with other SMEs, the Deloitte R&D team suggested a focused training and review approach, involving the Deloitte team in collaborative work with the client to help them fully understand the practical aspects of preparing and supporting and R&D claim.
The solution we developed
Experts from the Deloitte R&D team delivered a presentation to the client which discussed the main points to be considered when assessing eligibility of a project and collating the costs. One particular project which was included in the client’s claim was discussed in some detail to illustrate the characteristics that demonstrate R&D eligibility as envisioned by the published guidance.
After revisiting their draft claims, and supporting documentation, the client submitted details for one project for the Deloitte professionals to review and provide feedback. The comments raised were taken on board and applied to the other projects included in the claim.
The Deloitte R&D team also considered tax technical issues relating to the timing and format of the claims, and the interaction of the R&D deductions with the overall tax position of the company – this review resulted in an overall benefit significantly larger than that originally assumed by the company.
The benefits for our client
The client submitted their R&D claim which was agreed without query and the cash credit was paid in full within 28 days.
The assistance provided by Deloitte has enabled the company feel confident about preparing claims in future years. The organisation continues to engage with Deloitte and utilise out expertise for additional training and review services