In today’s competitive business landscape, Research and Development (R&D) play a crucial role in driving innovation and growth. However, for small and medium-sized enterprises (SMEs), navigating the complexities of R&D can be challenging. By recognising this, Nordens has positioned itself as a trusted partner for SMEs, offering tailored R&D solutions that meet the specific needs and goals of our client’s businesses.
Our expert R&D department will work with you through the whole process. We will ensure your application is thorough, detailed, and comprehensively sets out your R&D innovations. If you’re unsure whether you qualify for R&D, why not give our handy R&D Eligibility Calculator a go. Here you can determine whether you’re eligible for R&D tax credits, whilst providing an estimated indicative figure of what you can claim.
For now, we’ll explore the key R&D services which Nordens provide, and how we’ve got you covered in every capacity of the R&D process…
How Can Nordens Help With Your Tailored R&D?
Identifying Eligible Projects
One of the primary challenges SMEs face is identifying projects that qualify for R&D tax relief or credits. Nordens understands that each client’s business is unique, and our specialists collaborate closely with clients to identify eligible R&D activities. We conduct comprehensive consultations, review ongoing projects, assess technological advancements, and identify areas where innovation and experimentation are taking place. By leveraging industry knowledge and expertise, Nordens helps SMEs uncover hidden opportunities for R&D tax relief. This ensures maximum benefit for clients.
Preparing R&D Reports
Preparing accurate, honest and comprehensive R&D reports is crucial to successfully claiming tax incentives. Nordens recognises the importance of thorough documentation. Through our experienced accountants, we work closely with clients to gather all necessary information. We’ll meticulously analyse project details, technological advancements, incurred costs, and resources allocated to R&D activities. With our in-depth understanding of UK tax regulations and HMRC guidelines, Nordens ensures that our clients’ R&D reports are fully compliant and optimised for maximum tax relief.
Liaising with HMRC on Clients’ Behalf
Dealing with HMRC can be a daunting task for SMEs, particularly when it comes to R&D tax relief claims. Nordens simplifies this process by acting as a liaison between our clients and HMRC. We handle all correspondence, ensuring that relevant documentation and evidence are submitted accurately and on time. Our accountants are well-versed in HMRC’s requirements and can effectively communicate the technical aspects of our clients’ R&D projects. This naturally increases the chances of successful claims, whilst minimising the risk of audits or inquiries.
Additional Value-Added Services
In addition to the core services mentioned above, Nordens goes the extra mile to support our clients’ R&D endeavours. We provide strategic advice and guidance to help businesses optimise their R&D processes and make informed decisions regarding resource allocation and project selection. We are also on the pulse when it comes to updates on the latest legislative changes and industry trends. This ensures that our clients can adapt and take advantage of new opportunities or incentives, whilst informing them of any respective changes or developments.
What We Have To Say
Adam Truluck, our Tax Manager who fronts our R&D specialist department, believes, “As an accountancy firm specialising, and with a proven track record, in R&D, we understand the unique challenges faced by businesses in this sector. By offering tailored R&D solutions, we assist our clients in identifying eligible projects, preparing comprehensive R&D reports, and liaising with the HMRC on their behalf. Through our expertise and personalised approach, Nordens empowers businesses to leverage R&D tax relief and credits. This enables us to fuel innovation, drive growth, and stay competitive in the dynamic business landscape.”
We hope this has outlined to you how Nordens’ tailored R&D solutions and services can transform your business. If you’d like to know any further information, or anything accounting related, please do not hesitate to get in contact with us at Nordens, where one of our trusted advisors would be happy to talk you through your query.