Our Process

Saving you time in your R&D tax credit claim

We have tailored our R&D tax credit preparation service to meet the needs of time-poor clients who have a high workload and a full calendar.

NX Advisory’s R&D tax credit claim service will reduce your workload because our process is bespoke and streamlined. With our in-depth understanding of Revenue Ireland’s R&D reporting requirements, we will capture the figures we need quickly and efficiently, so we won’t need endless meetings, and there will be minimal paperwork for you to manage.

We will also ensure that you don’t miss the deadline for making an R&D claim to Revenue Ireland. Regrettably, Revenue won’t accept a late claim.

What happens when we take on your R&D tax credit claim?

From the first contact to submission, we’re with you; and we stay with you if Revenue has a query on your company’s application.

Early on in the process we will be able to tell you whether or not your R&D tax credit application is likely to succeed. We will always be honest in our assessment because we work on a no-win, no-fee basis, so there is no risk to you.

We tailor our process for each client to ensure we give an efficient, streamlined service, but generally the pathway looks like this:

1. Discovery
2. Technical interviews
3. Cost analysis
4. Drafting technical and financial reports
5. Review
6. Submission
7. Revenue query support

Discovery

You talk and we listen. This is a time for us to get to know your company and its aims.

We will efficiently collect all the information we need to support you as you work through the tax credit application process in Ireland.

For your peace of mind, our service is confidential, and we will sign an NDA along with our service level agreement.

Technical interviews

We find out about the R&D work relevant to your application, and your company’s research expenditure. Our advisers are experienced in collating technical documentation from companies in Ireland that are applying for an R&D tax credit.

Cost analysis

We will work out whether it is worth your while applying. If the sum you will ultimately receive doesn’t cover the cost to your company of claiming the R&D tax credit, we will recommend against making the submission. Our cost analysis report for your R&D tax credit application will help your company make an informed decision about proceeding.

Drafting technical and financial reports

At this stage, we will write up your R&D in a way that Revenue officers will understand, highlighting the scientific approach to ensure your application for R&D tax credits is successful.

Review

This is your opportunity to review your application and the R&D claim documentation to confirm that everything is as it should be.

Submission

We will make your tax credit submission in plenty of time to ensure you meet Revenue’s strict deadlines.

Revenue query support

Each year, Revenue randomly selects R&D tax claims to review and audit. If your application gets audited, we’ll be there to support you.

Revenue will ask for more details about your technical narrative and you will need to justify the costs you’re claiming.

The good news is that a well-prepared claim (like the claims we submit on behalf of our clients) will be robust in the face of an audit.

A few claims are picked up because Revenue suspects fraud or error. A claim that is prepared by a reputable, experienced R&D tax specialist is more likely to be compliant, and much less likely to contain errors that could be mistaken for fraud.

Meeting the deadline for the R&D tax credit claim

Revenue Ireland processes your R&D tax credit claims at the same time as your corporation tax return, and there are deadlines for applying for these tax credits, and failing to meet them will mean that you miss out on this valuable benefit.

To take full advantage of this valuable financial benefit, you will need to make a time investment in order to help us help you achieve compliance with Revenue Ireland’s R&D tax credit application process.

First time claimers, and companies who haven’t made an R&D tax credit claim for three years must tell Revenue 90 days before they apply.

Companies also need to make their R&D tax credit claim within 12 months of the relevant accounting period.

A tax credit advisor like NX Advisory can prompt you to ensure your company gathers the information required for your application in good time to meet the deadline.