
Research & development tax relief |
|
It’s not too late to act!
Research and development (R&D) tax relief was introduced in 2000 to encourage innovation and enterprise within the UK economy. However, seven years on and with the deadline of 31 March 2008 for submitting prior claims now looming, many companies are still missing out on this huge tax saving opportunity.
Many companies are now growing increasingly concerned about the impending deadline but the important thing to remember is it’s not too late to act. At PwC we have a dedicated R&D team with plenty of resource to help companies meet the deadline in time.
Save your company time and cost in the long run
The Government has made several changes to the claims process creating an environment of uncertainty. In addition, HM Revenue & Customs (HMRC) has increased the level of scrutiny that it applies to certain types of claims and there is not yet a consistent approach to challenging a company's claim.
Our teams of specialists work closely with clients to submit R&D claims and put in place effective and long-term reporting systems to help companies comply with all relevant HMRC requirements. Such an approach eliminates HMRC scrutiny over future claims and translates into time and cost savings for our clients.
In addition, PwC is in regular consultation with HMRC, the DTI, and industry groups. As a result of these relationships, we are well placed to communicate clients’ concerns and policy-related issues to relevant decision makers within Government.
At PwC, we combine our extensive knowledge of the legislative environment with our practical experience of working with companies to support clients through every stage of the application process, helping to ensure successful claims both now and in future accounting years.