R&D Tax Credit Benchmark Tool
Is your R&D claim putting your business at risk? HMRC scrutiny has drastically increased on companies claiming under the SME and RDEC R&D tax credits schemes. Our R&D Tax Credit Benchmark Tool helps you mitigate risk by benchmarking your tax credit claim against companies of similar size and industry.
Navigating the regulations and optimising your claim can be a complex task. BDO’s R&D Tax Credit Benchmark Tool provides valuable sector and risk insight into how your claim compares to businesses like yours, reporting best practice, and helps you to mitigate the risks of an HMRC enquiry.
HMRC has written to more than 2,000 companies in recent months as part of its ever-increasing compliance activity to crack down on fraudulent and inaccurate R&D tax relief claims.
Carrie Rutland, Innovation Incentives partner at BDO said:
“Companies that have been nudged by HMRC may face higher tax penalties if their claims contain errors. It’s important for all businesses to review their R&D claims to make sure there are no potential skeletons in the company closet.”
Analyse your R&D tax credit claim
R&D tax credits provide vital rewards for investing in innovation and can allow you to claim cash back from HMRC if you are loss making.
Our R&D tax credit assessment helps you understand and assess your SME or RDEC R&D tax credit claim against companies of similar size and industry. In this environment of increased scrutiny, changing regulations and economic uncertainty, you need to be confident that not only is your R&D tax credit claim accurate, but does not pose any risks to your business.
- Is your claim compliant with the new rules and filing requirements?
- Are you at risk of an HMRC enquiry?
- Is your R&D claim in line with your competitors?
- Are you missing out on claim opportunities?
- Using a combination of HMRC, business intelligence and our own data streams, the report provides data-driven, quality insights that provide real value to your business.
The assessment will provide you with a tailored report, providing analysis on your company’s R&D tax credit claim, allowing you to assess risk in your current claims and encouraging a smooth claim process by ensuring that you are putting forward a credible claim. The report contains:
- An assessment of your R&D tax claim against that of companies of similar size and industry
- An indication of whether you are over- or under-claiming
- A risk profile of your claim based on factors including claim specifics, industry insights and reporting requirements
- An assessment of your claim as either low or high priority, and an indication whether your claim needs further attention, or whether it puts your business at risk of scrutiny from HMRC.
Our Tax Operations Maturity Model (TOMM) is a simple to use diagnostic tool based on established international principles to assess the relative maturity of your tax operations, your tax governance and your underlying control framework.
Cost projection tools are useful at every stage of an expatriate assignment, from understanding goals to budgeting to policy review. Our Cost Projection Tool quickly provides hypothetical cost estimates, helping to ensure you get the most value from your assignments.