Find answers to frequently asked questions about RDvault and how it makes it easy to claim R&D tax credits.
It’s very simple. You don’t need to – the software does it all for you. Tax calculations can be complex, and RDvault’s intelligent tax computations works out everything from SME to RDEC, whether to surrender the losses or use the enhanced expenses to reduce your total taxable profits of the company.
The RDvault dashboard also gives you a simple and clear visual of all your R&D tax credit claims – making it easy to understand the value of your R&D claim.
HMRC aim to process all R&D tax credit claims within 28 days and in our experience can take longer depending on their workload. R&D claims which include the RDEC regime usually take longer.
Research and Development (R&D) for the purposes of R&D tax credits and tax relief is when a company incurs expenditure to seek an advancement in science or technology. HMRC have a lot of guidance explaining the sort of activities which qualify. We’d suggest you take a look at the HMRC Corporate Intangibles Research and Development Manual CIRD80150 titled “R&D tax relief:introduction: overview” and the BIS Guidelines to give you a good grasp of the type of activities which qualify for R&D.
Disconnecting from Xero is super simple. Just click on the link here and we’ll talk you through it in just a few steps.