How to write an R&D Tax Credit Report to meet 2023 Guidelines.
However, many people unsure whether they qualify for Tax credits look for examples of R&D Tax Credit reports, so we thought we’d give you one based on a real-life example.
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Vantage R&D Consulting
Optimising your research and development tax credits to help your business grow.
Learn MoreWhy choose Vantage?
Professional Guidance
We strictly follow HMRC guidance to ensure that your claim is conducted with integrity, objectivity and in a professional manner.
Extensive industry experience
We have delivered claims for a wide range of industries, from motorsport to software development and architecture
Flexible claim process
Our process is tailored to suit your business, minimising the impact on your day to day activities. We won't ask you to complete any forms or templates!
We work with your accountant
We aim to work closely with your accountant to make sure the claim is submitted and processed in the most efficient manner.
"Vantage were thoroughly professional throughout the process. When we were told what the credit value would be, we were amazed and naturally delighted. The claim was submitted and processed without any query from HMRC."
Nigel Snook, Team Owner, FS-3 Racing
What are Research and Development Tax Credits?
Research and development (R&D) tax credits are a valuable government tax relief that rewards UK companies for investing in innovation.
Companies that spend money developing new products, processes or services; or enhancing existing ones, are eligible for a cash payment and/or Corporation Tax reduction. R&D tax credit rates are the equivalent of up to 33p for every £1 of qualifying expenditure. They can be used as an alternative to innovation grants for research and development funding. Sometimes they can complement them too.
Client Stories
Lee Hardy Racing
"R&D tax credits have massively helped my business to move forward. Due to the confidence I have in Vantage R&D, I can plan the R&D credits as part of my cashflow forecasting.."
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MSS Performance
"Vantage were recommended to us by another team in the Superbike paddock that we've worked with on chassis development. There was an instant synergy with the consultant, John."
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FS3-Racing
"We knew about the scheme in general terms but never considered a motorsport business might be eligible, despite our significant budget for development work.."
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Fortis Racing & Mode Performance
"I had never heard of R&D Tax credits before, but we contacted Vantage after they were highly recommended to us. We weren't disappointed. Not with the process, the service or the results."
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Michael Rutter Ltd
"As a motorcycle race team, the business is primarily involved in road racing, but we're always working on new ways to make our bikes faster and ultimately, for the team to improve."
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CAB Studios
"Research and development is at the heart of the business and R&D tax credits have provided valuable funding worth over £150,000 in the past two years."
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Bournemouth Kawasaki
"R&D Tax Credits proved to be a big benefit to our business and really helped the team with finances to move forward and stay at the top of our game."
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Swadlincote Aluminium & Welding Company
"We've actually been developing since the early '80s, but we had no idea we'd been able to claim some of this spend back until we got talking to the people at Vantage. "
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Chainings Ltd
“We’ve already managed to claim just over £20,000 in tax credits from HMRC in two years."
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OMG Racing
"Working with John and the team at Vantage has been a fantastic stress-free process, which allows us to continue pushing our engineering boundaries."
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Raceways Yamaha
Vantage made it very straightforward for us, even going through hundreds of invoices manually to make sure every cost was correctly allocated. Nothing was too much trouble, and the levels of diligence
ViewLatest news and insights
You think you qualify for R&D Tax relief? Here's why you probably don't
Many companies mistakenly believe their developmental activities qualify for this coveted relief. Here's a deep dive into why certain "R&D" activities don't fit the bill for tax credits.
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R&D Tax Credits and Grant Funding - The correct treatment
R&D Tax credits can be difficult to understand at the best of times but add grant funding to the pot and it can get very confusing and, in many cases, very costly if they are not understood.
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HMRC increase compliance checks for R&D Tax Credit Claims
HMRC are increasing its compliance checks for all Research and Development Tax Credit claims. Are you confident that your claims are meeting this increased levels of interrogation?
Read moreReforms to Research and Development (R&D) tax reliefs
In the Autumn Statement of 2022 significant changes to the R&D Tax Credit scheme were announced.
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HMRC Enquiry: Why? How Long? And how to prepare your claim correctly
Why are some claims selected by HMRC for an enquiry or compliance check? And how long does an enquiry last? We discuss how to prepare your claim correctly to avoid enquiry triggers.
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