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We are passionate supporters of the view that healthy technology-based industries, underpinned by a thriving science base and advanced manufacturing capabilities, are essential to the future prosperity of the economy. Maintaining a competitive position requires constant innovation and the Government’s R&D tax credit scheme is an important source of support for innovative projects.

R&D tax relief is not like any other area of the tax system. Not only is the tax legislation associated with the scheme a highly specialised area in its own right, it is unique in that a successful claim is based on its scientific or technological merits.

This means that the claim process cannot be fully handled by tax personnel alone. It also means that, whilst still part of a company’s broader tax picture, R&D tax credits can be readily ‘unbundled’ from other tax projects.

At Pronovotech we combine specialist skills and knowledge in the R&D tax credits system with practical experience in technology to help clients submit high-quality, sustainable claims. We can work in conjunction with your existing accountant or tax adviser in order to manage the claim process, from gaining an understanding of your tax profile and R&D project portfolio in order to assess the level of benefit potentially available, through to working with Her Majesty’s Revenue & Customs (HMRC) to agree the claim.

Today, HMRC has specialist R&D tax districts that either deal directly with R&D claims or support Large Business Service inspectors as appropriate. Ideally, the initial claim submission will present the technical, tax and accounting information necessary for the inspector to evaluate the claim; if not, or if some areas of the claim are unclear, he or she will come back with requests for clarification and further justification.

Although HMRC’s approach to enquiries today is generally very constructive, preferring face-to-face meetings to the old tradition of lengthy correspondence, it’s far better to pre-empt any queries by presenting the right information with the tax return itself. When HMRC does raise queries, any ensuing discussion must be handled carefully and at Pronovotech we have extensive experience of helping clients to agree their claims with HMRC, even when prior discussion has stalled.

We have worked successfully with clients across a wide range of sectors including aerospace, automotive, electronics, telecommunications, nanophysics, software and food.

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10 Years Supporting Innovation
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