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Procedure for claiming research and development tax credit

Want to claim research and development tax credit for your company? Find the procedures suggested by HMRC for claiming R

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Procedure for claiming research and development tax credit

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  1. Procedure for claiming R&D TAX CREDIT

  2. R&D tax benefits are given by HMRC, UK for companies who involve in successful innovative research and development. Companies should follow a procedure designed by the HMRC to obtain R&D benefits.

  3. #1 Understand the R&D process in your company and identify the project that has resolved scientific and technological uncertainties.

  4. #2 Create a document in Layman’s terms explaining the scientific advancements and process involved in making the advancement.

  5. #3 Calculate the expenditure in your R&D department covering labor, materials and consumables invested in making the innovation possible.

  6. #4 Provide all the cost details and be prepared to answer any queries asked by the HMRC regarding qualification or cost.

  7. Are you looking for proper guidance and support to approach for R&D tax credits? Contact: 0203 393 0656 E-mail: Info@randtax.co.uk Website: www.randdtax.co.uk

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