BDO’s RD&I Services
Our R&D Incentives group combine accounting experts with engineers and scientists who can help you with all parts of the grant application and ensure you receive the RD&I funding to which you are entitled.
We work closely with our clients to ensure they meet the relevant requirements, file the necessary forms and reports, and ultimately improve their chances of success with the RD&I funding application.
Companies who make successful RD&I grant funding applications, typically improve their chances of successfully attaining further R&D tax credit benefits (i.e. a tax credit of 25% of qualifying expenditure on R&D). This ultimately results in a significant reduction in the cost of the companies R&D efforts.
BDO RD&I Grant Services
- Technical application preparation
Technical descriptions of the RD&I project are a critical and time-consuming part of any application and if they are incomplete or unconvincing, the chance of your application being successful can be reduced significantly.
Our team of engineers and scientists have vast experience preparing technical narratives for grant applications. We work to help you understand the relevant RD&I grant and its eligibility requirements and write the application for your approval. We can also help you identify qualifying projects / activities as we learn about your company’s operations.
- Commercial / Strategic application preparation
There is often a requirement to provide a detailed report on the commercial and strategic vision driving the company’s proposed RD&I efforts. Where this is the case our cross functional technical and financial team will help you understand the requirements for this report and write the commercial / strategic application for your approval.
- Financial information preparation
Along with the technical and commercial descriptions, an organisation is required to ensure that the costs and activities it proposes claiming are commensurate with the level of activity to be carried out. Depending on the grant funding option being considered, the nature and level of allowable costs can vary. Our experts can help to guide you through this process and ensure that you include all costs that you are entitled to.
- Documentation systems Implementation
A requirement of RD&I funding supports is that companies maintain evidence of the activity carried out, time spent, and costs incurred. The apparent onerous nature of creating a continuous and adequate paper trail often discourages all but the keenest of companies. We work with you to identify and implement appropriate tracking programmes, primarily relying on the documentation you already have. This will help support ensure you are in a position to make a reclaim for the costs incurred while minimising the administrative burden involved.
Once the application has been successful, claims for repayment are made after the expenditure has been incurred. This can be done by means of milestone repayment claims or a single repayment claim at the end of the project, this typically depends on the grant type, project timeline, and amount of repayment sought. We can assist with the compilation of repayment claims, including writing technical milestone reports.
The range of RD&I grant supports available is vast and can often be confusing; our cross functional team can simplify this for you.
We often find that, in addition to preparing the applications, we can empower your people through training to recognise R&D activities and help them identify areas where grant support might be available in the future. This reduces the risk that you are only claiming support for a small portion of your qualifying activities.
Depending on the grant type and quantum of expenditure, the relevant awarding body may require that an accountant’s report be produced to validate the expenditure. We can review the agreement between you and the grant provider. We can review this agreement to gain an understanding of the nature of the grant and what costs can be included in the grant application. We can also review the Directors Statement of Claim to ensure the amounts included within your workings and grant application match the amount being claimed in the period. We will ensure that the claim amount does not exceed the amount granted per the agreement and share an independent accountants report with the grant provider validating the costs claimed.
Do you have an RD&I related query?
If you would like to request more information on our services, please contact us here.