To identify whether you or your Client may have an R&D Tax Relief claim, here are four questions.
It doesn’t matter whether they are in profit or loss and, they can claim for qualifying costs that have been incurred over the last two financial years.
A successful claim typically takes 5 weeks from submission to HMRC
- If successful, then the referral fee is 20% of RandDTax fees which on average will be worth around £1440 + VAT for a typical £40K claim.
- Since the client usually contracts for the initial two year claim plus a further three years forward, you will continue to receive 20% of the RandDTax annual fee for the contract duration.
- Many clients then renew the contract after the initial three year term and you will continue to receive 20% of the fees for as long as they use RandDTax.
- Normally RandDTax pay the referrer £400 + VAT once the client has signed up and paid a minimum fee of £2000 + VAT. The balance of the referral fee is settled once the claim has successfully been processed by HMRC and the Client has paid the RandDTax fee.
- In the following years of the contract, you will receive your 20% once the client settles the RandDTax fee for that year. They are usually delighted and pay quickly.
RandDTax will contact you directly upon receipt of the form.