In many large businesses, R&D isn't carried out by just one department or facility. It often, involves multiple teams and locations. This can make compiling an R&D Expenditure Credit (RDEC) claim more complicated; with the need to collect information from large numbers of employees, requiring significant time and project management.
MMP takes care of this for you with an assigned project manager as part of the delivery team to ensure the work is completed painlessly and on time.
Our team schedule interviews with the right people in your organisation, drilling down to gather the necessary information requiring minimal input from your side.
We provide milestone reporting, so you'll always know where we're at in the process.
R&D Expenditure Credits
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As RDEC has become more generous, so has the level of scrutiny applied to each claim. This means more documentation is required and there are increased enquiries.
HMRC is simply doing its job
MMP doesn't get many enquiries because all our claims are prepared in a clear, detailed and thorough manner, with the right supporting materials. But when we do, our experienced team communicates effectively with HMRC, responding to their questions and helping them to close the enquiry while reducing any stress you may feel.
If your RDEC claim has an enquiry opened, and you don't feel you are getting the support you need, please speak to us about our HMRC enquiry service.
Making an RDEC claim with MMPWe're on a mission to maximise value from your innovation.
What's the process?
To learn more about working with MMP, please check out our methodology.
Our real-world experience of manufacturing, operations, development and finance means we quickly get to the heart of your eligible business activities. Where you are now, what's been done so far, who has been working on it and map this to project expenditure. Our interviews with your teams ensure robust, efficient and enjoyable conversations.
Our professionally qualified engineers, scientists finance and tax specialists put together a comprehensive report that clearly articulates why your projects are eligible for Research and Development Expenditure Credits, respecting the policy intent of the incentive. We ensure our report is fully compliant with HMRC's documentation requirements and needs. This respects your and our risk profile and reduces the possibility of an HMRC enquiry that no one wants
Calculation and net benefit
We perform a detailed analysis of your cost basis, identifying all expenditure which is potentially eligible. We'll work with your accountants and auditors to ensure the claim is correctly included in accounts and tax computations.
We also provide insights and recommendations to you to help maximise and streamline future claims.
What companies receive from the RDEC scheme.
Research and Development Expenditure Credit (RDEC) is an innovation incentive, for large companies or SME companies that have their R&D efforts subsidised through grants or funded R&D.
Still an SME? Go to our R&D Tax Relief page.
RDEC is a taxable credit. he generosity rate from 01 April 2023 has increased to 20%.
The credit is in the form of income, declared above the line in the statutory accounts and taxed at the prevailing main rate of corporation tax