August 2024

Case Study: RfM Transform and a leading Green Technology Company

Our client is a Lancashire business at the forefront of green heating technology, pioneering innovative solutions that combine local electricity generation with renewable heat. They needed expert guidance to navigate the complexities of R&D tax credits and ensure they could fully benefit from their innovative projects. Their goal was to secure funding in the form of a tax credit to support ongoing advancements.

The Business+Booster Solution

Zach and the R&D team at RfM Transform collaborated closely with the client. They meticulously identified qualifying activities and expenditures related to the advanced renewable heat systems. HMRC stipulates that claims must clearly demonstrate innovation, technological advancement, and the resolution of scientific or technological uncertainties in order to qualify for a tax credit. Additionally, claims should be supported by detailed documentation of the R&D activities and costs involved. This comprehensive approach ensured an accurate and maximised claim submission.

Best Practices for R&D Tax Credit Claims

HMRC requires precise documentation and clear evidence of your R&D activities. They have steadily got more stringent with their guidelines and so to ensure your claim is approved we will work with you to:

• Document R&D Activities: Maintain thorough documentation of the research process, challenges faced, and technological advancements achieved.

• Regular Reviews: Conduct regular reviews to ensure all relevant activities and expenses are captured accurately.

• Expert Guidance: Provide expert advice to navigate the complexities of the claim process and avoid common pitfalls.

• Track Expenses Meticulously: Keep detailed records of all costs related to R&D activities, including staff time, materials, and any subcontracted work.

"Working with RfM Transform has been instrumental for us. Their expertise allowed us to secure vital funding, enabling us to push the boundaries of green heating technology." - MD, Green Technology Company

"Our client’s commitment to sustainable and useful innovation is truly inspiring. We are proud to support their journey by helping them access the financial benefits of R&D tax credits, enabling further advancements in their groundbreaking technology." - Zach Barrow, R&D Consultant, RfM Transform

At RfM Transform we believe that small businesses can transform the world! That’s why we created the Business+Boosters. 6 Essential services designed to support and grow your business.

• Growth

• Digital Heathcheck

• Carbon Audit

• Exit Planning

• HR and H&S

• Innovation - R&D Tax Credit Claims

If your business would benefit from R&D Tax Credits, get in touch to see how we can help— to date we've successfully claimed over £3 million in tax credits for our clients.

+More Keeping your R&D Tax Credit Claims on Track in 2024

Small businesses can Transform the world!

Want to maximise your R&D Tax Credit claims? At RfM, we specialise in guiding our clients through the complexities of R&D tax relief. Our team is dedicated to helping you unlock the full potential of your innovative projects, ensuring you benefit from every available incentive.

Get in touch to discover how we support your business's growth and innovation.

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