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For over a decade, FRS has been helping companies all over the world to finance their innovative R&D projects through the management of R&D tax incentives.
R&D tax incentives are schemes offered in Europe, UK and across the globe by governments, designed to offer tax savings, and often, cash refunds for companies investing in R&D activities. The specifics of the regimes and how companies can monetise these benefits vary between countries. However, the core points of the scheme remain similar between countries.
Projects that involve competent professionals working together to develop an innovative new solution to a problem are eligible for R&D Tax Incentives Thus, a project has to demonstrate the following to earn eligibility:
These rules apply to most industries. It is a common misconception of those unfamiliar with the claim to think that the R&D Tax Incentive scheme applies only to projects in the world of Science and Pharmaceuticals, but that is far from being true. We encourage you to get in touch with us, we will clear up any doubts and help you take the most advantage of the scheme.
Specific eligible costs can vary between countries, but in general, in most of them the following costs are eligible:
Auditing and identifying the eligible projects and eligible expenses.
Preparing and calculating your R&D Tax Credit claim.
Preparing the technical file that justifies the innovative aspect of the claim.
Answering to potential enquiries from the administration about claims.
Supporting you all throughout the process, from the very beginning to the very end.
Identifying and claiming R&D incentives in an efficient and effective way requires extensive expertise and experience with the legal, and judicial regimes that grants them, as well as R&D expertise to audit the projects and prepare claims up to the highest standard.
At FRS, with our international team made of multilingual industry-experienced science and technology specialists and R&D tax professionals, we bring unmatched expertise to your business to help you secure the innovation incentives you deserve. We have been helping clients secure their incentives for over a decade in a variety of innovation sectors in France, Spain, the United Kingdom and other countries.
FRS in Spain
FRS has been helping clients obtain R&D incentives in Spain for more than 6 years.
In the case of R&D Tax Credit, companies can apply a 25% deduction on their R&D expenses. For the part of the R&D amount that exceeds the average of the previous 2 years R&D expenditure, a 42% deduction can be applied.
Spain also offers the option to obtain 80% of the R&D Tax Credit as cashback (monetización in Spanish). However, certain requirements have to be met, one of which is obtaining a binding report from the Ministry of Economy on the R&D eligibility of the project and its expenses.
FRS is in the top 10 of Spanish consulting firms at national level that prepares and obtains the biggest number of approved binding reports for its clients. Our expertise and experience in the Spanish R&D incentive ecosystem allows us to offer a high-quality service to our clients, which in return helps them make the most of the R&D advantages offered to them by the Spanish state.
FRS in UK
FRS has been presented in the UK R&D Tax Credit field for more than 4 years.
The UK R&D Tax Credit landscape has been an everchanging one in the last years. Both small median enterprise (SME) and R&D Expenditure Credit (RDEC) schemes have been modified and updated several times, and new schemes have been proposed.
In this landscape, FRS has successfully helped SMEs and large companies obtain their claims with no enquiries from HMRC. Our expertise in the financial field and R&D allows us to prepare robust claims and take the most advantage of the UK R&D incentives for our clients.
FRS is an UK tax agent registered with HMRC and is part of the R&D Community, a platform of accountants and R&D consultants that aims to raise standards in the R&D Tax Credit field.