Our approach to RDTR is not unique, but our approach to our clients is…
We will work closely with your company to ensure that only and all eligible activities are quantified and fully relieved against corporation tax.
To add to this, we will provide a free ‘Corporate Tax Make-over’, ensuring that business owners corporate tax strategy is effective and where appropriate suggest an ‘Action Plan’ to run alongside your company’s growth model.
Understanding your business
Your business is the priority, we will meet you and provide a plainly spoken ‘Tax strategy’, durable and flexible enough to add real value. This will be effective for shareholders and stakeholders and compliant with HMRC regulations.
RDTR: Technology Based Approach
Our approach is centred on an evaluation of the technological or scientific work carried out by you. This mirrors the BIS Guidelines and HMRC requirements. By meeting and understanding the aims of your technical team, we will be able to tell you straightaway if your claim is viable, and identify key projects and activities within the legislation. We can then quickly tell you the value of your potential claim(s).
Shareholder and Personal Taxes Approach
We will work through the raft of potential opportunities available, whilst ensuring compliance with HMRC obligations. This strategy will complement the corporate tax drivers that are important to you as a shareholder.
Tax Insight welcomes personal applications from applicants with special needs, and applicants who are willing, but unable, to access the work market easily. Absolutely no agencies please.
Expertise & Experience
The team is led by Maria Kitt. Maria has specialised in UK corporation tax and tax for entrepreneurs and business owners, for the past twenty two years; and was at ‘Ground Zero’ when R & D tax credits were first introduced into the UK Regime in 2000.
Having started life in Civil Engineering and trained as a Chartered Quantity Surveyor Maria then joined the Inland Revenue Tax Inspectorate as a Trainee in 1989, latterly heading up a Corporation Tax Unit of around twenty Inspectors. This gave a special insight into high tech companies and the accounts of multinational technology based groups, long before the invention of key reliefs such as RDTR and the Corporate Intangible Asset Regime.
She was a member of the HMRC groups which pre dated the introduction of the current day’ IR 35’ procedures and saw at first hand the policy behind the HMRC attempts to at rolling out controversial dividend / settlement regulations for (predominantly) small sized high tech companies. ‘This really was a bizarre time, as on the one hand we had the 10% corporation tax rate for entrepreneurial companies, but simultaneously we had the pre Commissioners appeal hearings for various tax cases which culminated in the Arctic Systems fiasco, where clearly HMRC policies for small company owners and the UK Government’s encouragement to innovation were hardly shown in their best light. At least now, the right messages seem to be coming across for intending UK innovators.
Maria then spent nine years in private practice, advising companies, and business owners upon tax compliance and planning opportunities. A significant amount of which was spent with innovative companies. ‘To date, I have been able to assist many hundreds of companies with significant tax decision making and over 102 companies to file competent R&D TR, claims in a format approved by HMRC’.
‘Apart from the obvious benefit of R & D TR it is a vital part of my business to provide innovative companies with a range of tax planning and compliance services specifically tailored to the entrepreneur. It is not just about the R & D claim but a durable tax strategy, leaving no opportunity unturned or compromised. The UK Corporate tax environment is as full of potential as it is complexity and it is my job to ensure my clients obtain genuine added value to their business at a reasonable cost.
“Our accountant had not even mentioned R & D to us, perhaps because our audit fee was quite small. This was a shame as we have grown in revenue this year due to the patents we filed last year. Tax Insight was able to capture our R & D claim and the process was entirely hassle free and cost effective. Going forward TI have helped us set up a costing system to identify our R & D costs at the push of a button. We also have a tax strategy plan in place, which is invaluable.”
“We have saved six figure sums of corporation tax thanks to Tax Insight. Further, we are no longer handing over substantial quarterly tax advances to HMRC, thanks to identifying our R & D activities. We are currently talking to a business buyer and carrying out a share valuation exercise; we have also been able to use TI to ensure our contractors paperwork is in order and tax compliant.”