FPSS Ltd

More Than Just Accountants Fifth Floor, 11 Leadenhall Street,

London,

EC3V 1LP.

www.fpss.co.uk 020 7280 0511

healthcheck@fpss.co.uk

All You Need To Know About Research

And Development Tax Credits

Do not miss an R & D claim again!

This book could save your business thousands of pounds ££

Surveys we have undertaken have shown that clients that

find out (from another party often a competitor) that they are

eligible for a R&D claim often consider changing their

incumbent accountants at this point…

Shocking FACTs…

“According to HMRC Only 13 % of all potential R&D claims

are being made by accountants leaving hundreds of millions

££s of unclaimed reliefs…

”

Our expert team serve accountants by undertaking claims on behlaf of your

clients, quickly proffesionally and simply so your clinets are left better off and

happy with you..

We our currently achieving a 2 week turnaround starting to finishing with clinets

recieving relief in record times due to our relationship of working with HMRC

research and development team

Who are we?

We are a unique blend of Chartered tax advisor’s accountants lawyers and a

wide base of PHD report writers that speedily maximise and prepare claims for

your clients.

This team has been specifically hand picked to deliver an excellent service to

clients on behalf of their trusted advisor you their accountant

So lets unpack the 5 most common Myths…

That we find stopping these claims

being identified by Accountants and Business Owners alike…

based on our years of experience of working with these two groups…

Myth 1 My clients aren’t doing innovative work in research and

development

We hear this a lot!

And this is what keeps R&D agencies in

business

Truth is if your client has a developer on the

payroll or have paid another company to create

ANY piece of software or hardware for their

business, they are very likely to qualify!

Examples of what qualifies:

1.Software as a service SAAS

2. Any custom built software

3. Mobile platforms

4. Social media tools

5. Pharma/medical devices/bio tech

6. Green/Clean Tech

7. Wearable Tech

Myth 2 The payoff to my firm isn’t worth the hassle

More and more clients are leaving their accountant because they can’t offer value added

services such as R&D Tax Credits.

With the rise in products to help businesses with their accounts, such as Xero and Receipt Bank, the traditional role of an

accountant has to evolve to meet their client’s needs.

Many of the fastest growing companies in the UK are looking to their accountant to do their R&D and leaving if they are not

able to get this service done in-house.

Thinking of just recommending a big R&D agent? They use their own accountants to file and your clients become

vulnerable to poaching. We know, we have seen it happen over and over again.

Myth 3 You can’t claim R&D if you aren’t paying taxes

Pre-revenue/Loss making

Some of the BIGGEST claims come from

pre-revenue or loss making clients

HMRC is trying to foster more software and technology

innovation.

They also realise that it can be quite expensive to

create a new product before it makes a profit.

Higher rebate for companies that are

loss making

Companies can take advantage of a higher surrender

rate if they are loss making than if they break even. The

difference can double their potential return.

“Beware of missing chances; otherwise it

may be altogether too late someday”

-Franz List

Myth 4 I don’t want to put my clients in jeopardy with HMRC

HMRC R&D Units were set up to HELP new and growing companies with funding as part

of their initiative to stay competitive in the global technology race

There is a separate R&D Unit that deals exclusively with R&D claims. As long as all information is accurate

and within acceptable categories claims will be accepted.

We have 100% success over 3 years and HUNDREDS of claims

Myth 5 My clients hire a development company from outside the UK and

the R&D is done outside the UK

It’s acceptable for your client to hire a

company to do their development.

HMRC realises that young companies may

have to keep their budgets tight.

From April 2012 you no longer need to have

payed PAYE or NI to qualify for the R&D

scheeme

The R&D is done outside the UK

If they are either employed by your client’s

company or doing subcontracted work outside

the UK, as long as the payment for this work

comes through the UK company's accounts,

they will qualify!

How do you know if you

have clients that qualify? What R&D agencies DON'T want you to know

1

Top 5 qualifying

questions ◇ Are you working on any project that is new/innovative?

◇ Are there clear start and end dates? ( It’s ok if it’s ongoing)

◇ What field is your project in?

◇ Is your project an improvement on what already exists in the

market? Is it a completely new?

◇ Is your company in a profit or loss?

TOP SECRET!

Questions from R&D agencies 1. Have you used a

developer either in-

house or as a

contractor?

2. Are there any

projects that you

have scrapped?

3. Have you done any

testing in any area

of your business?

4. Have you had

anything bespoke

developed?

5. Do you do

maintenance/make

improvements on

existing projects?

6. Do you have a sister

company in another

country?

7. Have you faced

challenges in developing

your project?

8. Do you develop

bespoke products for a

paying clients?