Post by Prime Partners Chartered Accountants

Most businesses think about the R&D Tax Incentive after year end, when the work is already done and the records are whatever they happen to be. The ones who get the most out of it prepare before 30 June. Our R&D Manager Hamish Sinclair has written a guide on what that preparation looks like. The difference usually comes down to documentation. Contemporaneous records of your experiments, the technical uncertainties you were resolving and the costs tied to each activity will do far more for your claim than anything assembled in a hurry come July. If your business is developing new products, processes or software, now is the time to check that your record keeping can support what you intend to claim. A short conversation before year end can save a great deal of effort later and it can make the difference between a claim that holds up and one that does not. Read Hamish's full guide on what to do before 30 June: https://lnkd.in/g8FtB_qP #RnDTaxIncentive #StartupFunding #TaxPlanning #Innovation