01676 48793
01676 487930
Our contact details Breakthrough Associates – The Old Telephone Exchange, Gipsy Lane, Balsall Common, Coventry, CV7 7FW 01676 487930 info@btaservices.co.uk
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The Breakthrough Associates Process
Introductory Visit
+ Our blue-chip entrepreneurial experience enables us to tackle R&D claims in a unique way. + Instead of starting with the numbers or the tech, we start with a cup of coffee and approach your business by looking at the bigger picture.
+ By taking a holistic view of your business, we are able to isolate qualifying expenditure that would otherwise be missed. + No two businesses are the same. As such, neither are our claims. Each claim is completely bespoke to your business to ensure we maximise your return.
Technical Call
+ Once our business experts have gained a comprehensive view of your operations, a team of specialists relevant to your industry will be hand-picked to construct a robust and thorough technical report, detailing why your work qualifies as R&D. Our finance team, composed of chartered accountants, will work on the figures. + Where necessary, we will seek external technical support from a wide range of industry experts who we work with on a regular basis.
+ Our team will work in conjunction with the experts of your business to isolate all qualifying activities and associated costs.
QC Check
+ Once the first draft of our report is complete, our in- house team scrutinise the report line by line, as a HMRC inspector would. This process is repeated several times to ensure the claim is robust before being sent for board approval. + Following initial scrutiny and review, the report is then sent to the board of directors for final review and approval. Every one of our reports is thoroughly reviewed and ultimately approved by both the Managing Director and Financial Director before we send the first draft to you.
+ Our thorough quality control process is what enables us to maintain a 100% success rate of claim approval + Once you are happy with the details of your report, it is ready to be submitted to HMRC.
Dealing with HMRC
+ We will walk you through how to submit your R&D claim alongside a revised CT600. We recommend that your current accountancy firm submit your revised CT600 with our accompanying report. + In rare cases, your accountant may be unable to submit your CT600 (like if your accountant is on holiday). In these instances, we are able to use one of our trusted accountancy partners to submit the CT600 on your behalf.
+ Following the submission of the CT600 and accompanying report, we will deal directly with HMRC on your behalf, leaving you free to focus on your business. We regularly follow up on the progress of your report to ensure it is approved as soon as possible. + If HMRC have any queries on the report, we are their point of contact, ensuring any questions are answered promptly and correctly. As a result of our thorough process, this is a very rare occurrence!
Receiving the R&D credit
+ HMRC try to approve all claims within 28 days, though as a result of the volume of claims submitted, this can sometimes take a little longer. + Depending on when your claim was submitted relative to your year end, you can expect to receive your benefit between 4 – 6 weeks after submission (though some of our clients have been paid in 2 weeks).
+ If you are a profitable business, you can expect a reduction in your outstanding Corporation Tax liability. If you have already paid Corporation Tax for the period, you will receive a cash refund.+ If your business is loss-making, you will receive a cash credit if you surrender the loss, or you can opt for a reduction in future corporation tax depending on your circumstances.
Bringing Value to Your Business Whether you are a profitable business or loss making, we strive to ensure your R&D Tax Credit journey with us brings both immediate value through the short-term recovery, and sets you up to benefit from the scheme for many years to come. At Breakthrough Associates, we want to forge long term relationships with our clients to ensure your recovery is maximised well into the future. As such, we don’t tie you in for long term contracts; we depend on our service to you, and the value we bring to your business, to ensure we are your only choice for R&D recovery. Thinking about exploring R&D Tax recovery? Get in touch info@btaservices.co.uk 07966 256360