How to Claim the R&D Tax Credit

When making a claim for R&D tax credits, companies can generally claim for the current tax year, plus 3 previous tax years. There is also an R&D tax credit carry-forward period of up to 20 years.

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It’s important to remember that the claims process may vary slightly depending on your industry and research activities.

How Are R&D Tax Credits Calculated?

R&D tax credits are calculated by comparing the current year’s R&D expenses to a historical “base” period – typically, the three previous years.

The R&D Tax Credit Claim Process

There are three main steps involved in the R&D claim process:

Step 1: Feasibility Study

We deploy a team of experts to work on your file and monitor the program and funding options. Our specialists conduct a comprehensive review to identify all eligible projects, research activities, and innovation endeavors to determine the viability of credit.

Step 2: Analysis and Claim Optimization

We then analyze the information gathered in our assessment and prepare a claim optimization strategy to strengthen your claim and maximize your federal and state credits.

We also prepare the technical write-ups and necessary financial documentation to support your claim. This includes helping you to implement an R&D documentation system to ensure records of your research activities are kept up to date.

Step 3: Form Preparation and Claim Submission

We then finalize your R&D Tax Credit Summary report, this includes preparing both federal and state Pro Forma forms on your behalf.

Download our R&D Factsheet below to learn more about Ayming and how we can help you maximize your R&D tax credit claim: