We have a broad range of experience with the SR&ED tax credit program.
Braithwaite provides SR&ED claim advisory services. We work in virtually every industrial sector and in every province in Canada. Braithwaite has more than 500 active clients ranging in size from large global companies to small local firms. Our large client base gives us a strong insight into the operation of the SR&ED program.
We take a professional approach to our engagements.
We listen to our clients. We are accessible on a timely basis. We keep our promises as to meeting deadlines. We relate well to our clients, and their staff. Clients are kept informed of the work we do as it occurs, and the progress of our engagements. Our communications are free of jargon. We notify clients of changes in scope and we seek client approval for those changes. We explain what we have done and why. We initiate and anticipate. We offer quick turn around time where it is required. We deal with problems openly and react quickly.
We have thirty-nine experienced individuals on staff dedicated to serving our clients. Our consultants who have hair have gray hair.
We staff our SR&ED engagements with scientists and engineers who understand the ground rules, and the types of activities that qualify for incentives. They have collectively worked on more than 10,000 claims, acting as advisors to corporations and advisors to the Canada Revenue Agency (CRA). Our technical staff is supported by accountants, who have in depth understanding of the SR&ED provisions of the Income Tax Act and its Regulations, and by tax specialists, who can effectively link these incentives into your overall tax strategy.
Engaging Braithwaite will enhance your claim, and will save costs related to staff time spent in claim preparation, costing, and audit related activities.
It has been estimated that an average company spends about $20,000 in internal costs to prepare a tax credit claim. That figure does not include the costs to an organization of defending a poorly prepared claim. And that figure does not include the loss of potential benefits of missed opportunities such as projects passed over in the identification process, and projects underestimated as to size. Braithwaite’s in depth knowledge of the SR&ED program and CRA’s assessing policies, and our thorough approach to the process of making a claim, allows us to reduce your costs and maximize your return.
Meeting the taxman is not necessarily a losing battle if armed with expertise and understanding of the program. Our goal is to work with CRA on a cooperative non-confrontational basis.
Our clients engage us at all stages of the claim process. We help them set up cost and activity tracking systems to document SR&ED as it occurs. We train their staff through seminars, or as part of a walk through the claim process, to recognize when they are doing SR&ED. We help them prepare technical and costing submissions. We advise on preparing for a CRA review, and we attend reviews with our clients. We follow up with CRA on the status of claims, and track them through every stage of the process. Where required, we also assist where situations start to go sideways, or the outcome is not what was expected. We have a number of successes in preparing notices of objections to tax assessments. Where called upon, we have acted as expert witnesses in court cases, and have acted as advisors to lawyers in preparing to appear before the courts.