JCR Security Limited is a fire and safety company providing installation and maintenance to the commercial sector.
“When JCR Security Limited became a client of Haslers we immediately enjoyed the proactive service that identified various tax efficient strategies and reliefs that our previous accountant did not advise us of. One of the reliefs identified was Research and Development Tax Relief”.
Through regular contact with the client Haslers quickly understood the business. It became apparent that the company was engaged in Research and Development qualifying activities. Our experienced and qualified advisors explained that businesses who are researching or developing new, or potentially improving existing products, processes or services could qualify for Research and Development tax relief. As with most businesses they were unaware of their eligibility.
“By Haslers identifying and submitting a claim on behalf of our company it adjusted our tax bill for the previous two years generating repayments of nearly 25% of qualifying expenditure. This proved a welcome injection to our cashflow and helped to fund and accelerate our business growth”.
Other Haslers clients have welcomed the cashflow advantages that similar claims have generated in view of the current climate.
Once it was identified that the company was carrying out the activity our skilled team quickly arranged a presentation and conducted interviews with the company’s competent professionals. This ensured that Haslers R&D team could maximise the claim whilst being efficient with the company’s staff resources.
A bespoke and detailed claims methodology was developed for the company to reflect its business and its records. The bespoke methodology was then used to create a report which included:
- Technical narrative
- Summary of costs
- Claims Methodology
Our bespoke report is designed to provide all the information to HMRC as to why the conditions of the relief are met significantly reducing any queries.
The report was submitted to HMRC with an amended corporation tax return (CT600) and the repayment was received by the company shortly after. The entire process took less than six weeks.
Our continuing relationship with the client ensures that we not only identify available tax reliefs, but we continue to support them by understanding their needs through regular communication.
We have the experience, resources and skills to quickly prepare and submit large Research and Development claims. In the current climate this is an invaluable resource for those that require additional cashflow injections.