We specialise in R&D tax relief, offering expert guidance and support to help limited UK-based companies navigate the intricate landscape of research and development incentives.
Who are
Harmoney Consulting?
At Harmoney Consulting, our team of experts work closely with clients to identify eligible R&D activities within their project(s), across a variety of industries, from manufacturing and engineering to software and technology.
We manage the entire claim process, from initial consultation and project evaluation to the preparation and submission of detailed documentation, simplifying what can be a complex procedure. This end-to-end support allows companies to reinvest the benefits into their technological innovation efforts, helping them stay competitive and progressive in their respective fields.
With a focus on technological innovation and a reputation as a trusted provider, we empower businesses across various sectors, enabling them to flourish in an ever-changing business environment. We help businesses reduce their tax liabilities and reinvest in technological innovation, driving growth and development.
How it Works
Process
R&D tax claims require a collaborative effort between Harmoney Consulting and the client, but we are here to guide our clients through the process every step of the way to make it as easy as 1, 2, 3…
Technical Projects Call
A discussion with your Technical Consultant to determine a list of projects, and detail around the qualifying activities which took place to overcome the technical problems to achieve a significant improvement in technological methods, systems, products, or practice
Gather Financial Data
We will guide you through the process of gathering the information we need for your financial assessment, including a copy of the payroll inclusive NI and pension contributions, subcontractors, consumables (material costs), and any software licenses (including data licenses/cloud computing costs), along with a copy of the full accounts, CT600/Comps, and trial balance for the relevant period.
Cost Collection Call
Once we’ve received the financial data from you in full, we’ll arrange a call to assign the relevant costs to the R&D projects. Our finance team will then finalise the assessment to determine the final value of the claim.
Leave the rest to us
Once the 3 steps are complete, we will prepare the report for your review, and you’ll receive an email explaining the value of your benefit and how it will be received (either as a tax reduction or a cash payment). We submit the AIF (Additional Information Form), which includes the key elements of the technical report, directly to HMRC, and we provide the computations for your accountant’s review.
How it Works
Research and Development Tax Relief
The definition for Research and Development for tax purposes:
Trying to advance science or technology by resolving technological uncertainty
R&D Tax Relief is a government incentive designed to reward technological innovation and support businesses that push boundaries in their field. Recent changes to the scheme mean that HMRC now require more detailed information from claimants and R&D providers. These changes aim to ensure compliance and safeguard the integrity of the scheme. It is more important than ever to work with an R&D specialist that understands the complexities of the R&D Scheme
We use the
&
to assess the eligibility of qualifying work for the claim
DON’T WORRY – We will guide you through this every step of the way!
Research and Development (R&D) Tax Credits are a Government-led scheme set up in the year 2000, designed to reward businesses investing in technological innovation. R&D Tax Credits offer financial aid to eligible businesses to further support their research and development, hire new employees and ultimately grow their business.
If you are designing, developing, or improving a product or service, or solving a problem with no existing solution then you could be eligible to claim. The scheme works by reimbursing a percentage of your development expenditure. Your relief can be delivered as a refund, a reduction on your tax corporation bill, or a cash lump sum.
Eligibility
Who Can Claim?
The UK Research and Development (R&D) Tax Relief scheme is a government initiative designed to encourage limited companies to invest in technological innovation by offering tax incentives. The R&D Tax Relief scheme is widely regarded as a key support for technological innovation in the UK, encouraging businesses of all sizes to invest in new technology, improve existing offerings, and contribute to broader industry advancements.
The scheme is designed to promote technological innovation across industries by providing tax incentives to companies that take on projects involving scientific or technological advancements.
Eligible projects aim to improve knowledge or capability within the field, while seeking to overcome significant technical barriers (for which any competent professional in the relevant industry would agree there are no readily available or deducible solutions).
Qualifying expenditure/project work must occur within the accounting period!
The project timeline can start and finish outside of the claim window, but only costs/activities within the claim period can be included.
Our Priority
Compliance
Compliance is prioritised at every stage, particularly during the preparation of R&D claims. This includes verifying the accuracy of financial calculations, evaluating supporting evidence, and ensuring the submission package meets all necessary requirements. To maintain the highest standards, the team conducts regular checks with consultants to ensure nothing is missed, reinforcing their commitment to delivering compliant and successful claims.
In the complex world of R&D Tax, compliance is not just a regulatory necessity – it’s essential to maintaining credibility, reducing risk, and ensuring the smooth progression of claims.
At Harmoney Consulting Group, our compliance team is dedicated to safeguarding our clients and colleagues by ensuring that all work produced is fair, accurate, and well-documented. We take full responsibility for the review process, serve as a hub for tax-technical expertise, and manage all correspondence with tax authorities.
Our team examines each claim from a tax inspector’s perspective before submission, enabling us to anticipate and address potential questions from HMRC. This proactive approach not only reduces the risk of enquiries but also streamlines the process for any that do arise.
Reviews are conducted at the submission stage, once the written evidence of R&D is prepared, financial assessments are calculated, and the complete submission package is finalised.
Get in touch with our team by emailing Compliance@harmoneyconsulting.co.uk
We are members of The R&D Community who support us with training and guidance.
Client Feedback Survey
© Harmoney Consulting Ltd. All rights reserved.
Any Questions?
Get in Touch
Contact@harmoneyconsulting.co.uk
02031 498 276
Harmoney Consulting Group, a company incorporated under the laws of Scotland, and having its registered office at:Â 272 Bath Street, Glasgow, G24JR.
Registered number: SC661102