Our R&D tax credit claim process
How TEQ Group works
Essentially, we make it our business to provide our clients with the maximum possible tax relief whilst taking up as little of your time as possible. We take care of everything, and we can begin the process of determining eligibility following a brief phone call.
Here is the process we follow in almost every case, in 7 simple steps:
1. We offer a no-cost, no-obligation assessment
We undertake an initial assessment of your eligibility for R&D Tax Relief. This could be as simple as a brief phone call, a conference call, or an in-person meeting.
If you appear to be eligible for relief, we’ll move on to agreeing to a fee structure, and issuing a letter of engagement.
2. We’ll schedule a Technical Meeting
We’ll set up a meet with one of our experts and your own technical staff to identify eligible projects. Essentially we’ll discuss the work you do in detail, and make sure we capture every aspect that could qualify for tax relief.
Again, we respect how valuable your time is, and we’ll keep this as brief as possible without running the risk of having to schedule another meeting later because we failed to ask that one important question.
3. We’ll write a Technical Report
This will be a formal, in-depth report which will justify the eligibility of all the projects and individual expenses we identified following the technical meeting. This step is handled completely on our end, and won’t trouble you at all.
4. We’ll submit the Technical Report for approval
At this point, we’ll ask you to review the technical report for accuracy and completeness and approve it once it is accurate and complete. Again, this is designed to be a short, hassle-free process.
5. We show you how to handle Cost Capture
At this stage, we provide our clients with custom cost capture sheets, provide training in how to use them, and provide any support you may need in identifying eligible costs.
This is actually not as arduous as it may sound. The sheets are simple and easy to use and will have been produced specifically with your processes in mind.
6. Claim Submission
We’ll then compile all aspects of the claim (financial and technical narrative) and provide it all to you or your accountant. With the technical report and cost calculations that we’ve done, you can submit an amended CT600 to HMRC which will ensure that you are actually getting all the R&D Tax Relief to which you are entitled.
We can also actively defend your claim in the unlikely event of an audit by HMRC.
7. Claim Completion
Once the claim has been submitted, it typically takes 6 weeks for you to receive your tax relief payment. We invoice for our contingency fee once you receive that payment. That way your cash flow won’t be affected by the process.
Get in Touch
Contact us for a free R&D Tax Credit consultation
TEQ Group is a trading name of Davrae Ltd, Registered in England: 08003906