Equine & Farming - What is the ideal type of technical information required to produce an R&D claim?

The legislation and guidelines around R&D tax are ever-changing and clarifying over time; in particular, HMRC has sometimes been vague about their general requirements in information from companies claiming R&D tax.

However, time brings increased clarity in what specific documentation is most valuable. As such, we can provide improved guidance on what documentation you should keep close track of as you continue claiming for R&D. This is especially worth bearing in mind for new projects, but it is also relevant for ongoing projects.

This includes the following documentation focusing on details relating to the timeline of a project:

• Internal documents proposing the project.

• Documents or correspondences regarding the progress of the project:

  • These will likely be email or group texts/messages but may also be notes or more formal write-ups in some situations. These are particularly useful if they contain a discussion of the difficulties of the project and changes that needed to be made during the relevant period. They are also useful because they are dated and help to accurately establish a timeline for the project.

  • Any measurements or commentary on performance related to these discussions.

  • Vet reports or other health tests.

  • Photographs of specific issues or new developments and changes, if available.

  • In the case of feed changes, descriptions of the new composition, even if measured in just proportions or cups/spoonfuls.

• Relatedly, any documents that show the eventual success or failure of the project’s goal. However, these are likely to be a part of internal correspondences. Again, we would most likely expect group chats or emails.

If you, or anyone you know, want to discuss our R&D tax and/or R&D grants services in more detail, please contact us via info@minervainnovation.co.uk or 0141 378 4969!