TAX ENQUIRY SUPPORT
Nobody likes to receive that brown envelope marked “HM Revenue and Customs” and that letter with the logo in the top right-hand corner. When you get one out of the blue after submitting your R&D Tax Relief claim, it can be panic inducing. R&D Tax Relief is going through its most significant period of change and scrutiny at the moment and there is more to come. This makes the landscape even more challenging to navigate.
If you receive one of those letters from HMRC telling you that they are enquiring into your Research and Development Tax Relief claim included in your corporation tax return for the period ended mm/dd/yyyy, don’t panic, even if they are talking about penalties. If you worked with someone to help you with your R&D claim, they should be your first port of call, can/will they help you. Secondly, talk to your own accountant, do you have tax enquiry insurance that might cover the cost of supporting your R&D Claim? Finally, if you have exhausted these avenues and no=one can help, then give us a call, you can book an Enquiry Support call with our Director who has 18 years of experience in supporting business to claim R&D Tax ReliefBook a Slot
HMRC Random Enquiries
HMRC are stepping up the volume of random enquiries following a spate of evidence of fraud and error in claims made under the SME Scheme. Just because they have opened an enquiry doesn’t mean they think your claim is incorrect. Depending on the nature of the enquiry, you may have to resubmit/refocus a previously filed technical report, to support any new questions that they may ask. If you receive a Fraud Investigation Services letter, it may be that you operate in an Industry where R&D isn’t prevalent. If you are confident in your claim, the best course of action may be to ignore it. But if you cold called to submit a claim, and aren’t confident in its success, then this may be an opportunity for a bit of buyers remorse.
Affordable, Professional Tax Enquiry Support
We’ll agree hourly rates for our work with you, if you have tax enquiry insurance we may be to adapt our fees to stay within the rates your insurance is prepared to pay.
If you are already a customer, generally, there won’t be additional fees for enquiry support, unless we have a contract with you where we have agreed a different arrangement
If, upon consultation, we discover that it is possible to make further tax savings we would enter into conversation with HMRC to make the further tax reductions. We will charge a “no win, no fee” success fee equivalent to 35% of the additional tax saving obtained for the company.
Could your SIC Code land you in hot water with HMRC?
Over the last 12 months, there has been significant focus at HMRC on a company’s SIC Code in determining whether they should open an enquiry into a Research and Development…