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An initiative from HMRC intended to simplify the R&D tax credit scheme for SMEs. If granted, you will receive guarantee that any R&D tax credit claim you submit within the first three accounting periods will be accepted!
Unfortunately many small businesses are unaware of the Advance Assurance initiative and only start the process of making an R&D tax credits claim once the first tax return is due. Holding off until then could mean that you rush the R&D claim submission, making mistakes, and missing out on the funding you need to accelerate business growth in the early stages. You can start submitting successful R&D claims with confidence that they are correct from day one, without spending too much time and money, by using the Advance Assurance template. This template can then also be used when applying for alternative sources of funding in future. For more details on R&D tax credits advice click here.
If you’re an SME, planning to do R&D (or have already done so) and haven’t submitted an R&D tax credits claim before, you can apply for Advance Assurance. If your business is part of a group, be sure that none of the linked companies has made a claim previously, as this will disqualify you.
If your company qualifies for Advance Assurance, you can apply on the gov.uk website. However, as you’re new to the scheme you should be aware of the common mistakes many businesses make, which could lead your application to be rejected. Unfortunately, due to the diverse nature of eligible businesses, there is no ‘one size fits all’ approach, so it’s best to seek advice from an experienced adviser to be sure your application is granted.
We’ve supported SMEs with their Advance Assurance application by getting to know their business and identifying how what they do applies to the HMRC guidelines. We then navigate applicants through each stage of the process ensuring they are confident and clear in their claims. This includes:
Our tailored approach ensures that we provide you with the support you need and won’t charge for any extras that may not be relevant to you. If you are a member of an accelerator or trade body, we can offer a roundtable training service to minimise the initial outlay.
An initiative from HMRC intended to simplify the R&D tax credit scheme for SMEs. If granted, you will receive guarantee that any R&D tax credit claim you submit within the first three accounting periods will be accepted!
Unfortunately many small businesses are unaware of the Advance Assurance initiative and only start the process of making an R&D tax credits claim once the first tax return is due. Holding off until then could mean that you rush the R&D claim submission, making mistakes, and missing out on the funding you need to accelerate business growth in the early stages. You can start submitting successful R&D claims with confidence that they are correct from day one, without spending too much time and money, by using the Advance Assurance template. This template can then also be used when applying for alternative sources of funding in future. For more details on R&D tax credits advice click here.
If you’re an SME, planning to do R&D (or have already done so) and haven’t submitted an R&D tax credits claim before, you can apply for Advance Assurance. If your business is part of a group, be sure that none of the linked companies has made a claim previously, as this will disqualify you.
If your company qualifies for Advance Assurance, you can apply on the gov.uk website. However, as you’re new to the scheme you should be aware of the common mistakes many businesses make, which could lead your application to be rejected. Unfortunately, due to the diverse nature of eligible businesses, there is no ‘one size fits all’ approach, so it’s best to seek advice from an experienced adviser to be sure your application is granted.
We’ve supported SMEs with their Advance Assurance application by getting to know their business and identifying how what they do applies to the HMRC guidelines. We then navigate applicants through each stage of the process ensuring they are confident and clear in their claims. This includes:
Our tailored approach ensures that we provide you with the support you need and won’t charge for any extras that may not be relevant to you. If you are a member of an accelerator or trade body, we can offer a roundtable training service to minimise the initial outlay.
If you have any questions about Advance Assurance, or are just looking to get started, get in touch via the form below and our R&D experts will be in touch.
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