Accuracy in R&D Reports as HMRC take a closer look Gina Gardner
Gina Gardner, Corporate Tax Manager at Ballards LLP Chartered Accountants discusses. It may be clear to you that you are undertaking innovative and qualifying activities for R&D purposes, however, it needs to be presented to HMRC in a clear and understandable way to evidence that it meets the criteria for relief. Your advisor should ask you for detailed evidence of the work before making a claim as there is a much greater level of scrutiny
on R&D claims at present by HMRC. There is also rumour, that HMRC’s auditors may not sign off their accounts, as they are concerned that some of the R&D claims that have been submitted to HMRC and subsequently processed, may be fraudulent. So, there will now be a greater level of checks for all claimants, even those that are legitimate. The quality of a report is not something to compromise on and although it may be additional work, it’s a far cry from the potential work required in the case of a full enquiry. Ultimately, as a Director, you will sign off your company tax return and R&D report, and thus, you must be happy that the contents are complete and accurate. Our experts will work with your technical staff directly, either by writing up reports ready for your review and commentary or by providing specific review points from your draft write-ups if that’s the preferred method of completion. Whichever process works best, we will tailor it around you.
To summarise: Remember, as a Director, you ultimately need to be happy that the report substantiates the claim being made, and that the claim is accurate and genuine. HMRC is undertaking much greater checks on claims and additional information may be required. Be very wary of providers suggesting they can make a claim with limited information as you are ultimately responsible for the submission, not the firm you are engaged with. We will work with you in a way that suits you best in order to capture high-quality supporting evidence, whilst maximising the relief and minimising any perceived burden of completing it. If you have any queries regarding an existing claim or would like to discuss our services further, please don’t hesitate to contact Gina Gardner at gina.gardner@ballardsllp.com
Making Businesses Green, it’s not easy, or is it? Ballards LLP Chartered Accountants, Digital Transformation Partner, Sean Devlin discusses.
Sean Devlin
Budgets are tightening, consumers are struggling, and you might be asking yourself if you can afford to be green. Then throw into the mix, the dizzying array of choices or approaches and seemingly contradictory advice; doing the right thing can feel impossible. Below are a few ways in which you might encourage some industrially green shoots.
Stop or reduce unnecessary activities The easiest way to be green aligns nicely with lean principles… These are things like unnecessary transport, extra steps in processes, unnecessary checks, or leaving lights on. This sounds basic, but we so commonly find these small things add up to significant savings. More significantly reviewing your core processes can yield great green gains. An efficient process is inherently greener and cheaper.
Go digital I know, I know, you have been doing it for years and there are so many good reasons to print paper and transport it back and forth between sites, but you really don’t need paper (in 99.99999% of cases). Yes, there is a footprint to digital products, but with the efficiency you can gain with digital products, it’s rare you wouldn’t more than offset this. Also, fewer physical assets mean more flexibility as to how and where you get work done.
Work with your suppliers A huge and commonly ignored chunk of our carbon footprint are what materials and products we buy in, if you want to be greener ask your suppliers what they are doing to reduce their footprint. Maybe there are ways you can work together to be both cost-effective and greener.
Grants Grants Grants There are loans and grants available and emerging all the time for SMEs looking to be green, ranging from renewables to insulation to technology implementations. Take a look and see what might be available for you.
Find out more about Ballards LLP Chartered Accountants at
ballardsllp.com
If you would like any more information or to discuss some of the possible funding available, please don’t hesitate to contact Sean Devlin on sean.devlin@ballardsllp.com.
Herefordshire and Worcestershire Chamber of Commerce
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