Tax Credit Recovery
A Customized Approach To SR&ED Tax Credits
If your company is developing new or improved technologically advanced products or processes, Braithwaite Technology Consultants Inc. can help you obtain tax credits for research and development. Braithwaite’s multi-disciplinary teams use a proven methodology that involves a minimally obtrusive approach to help companies get full credit for their innovations. With a greater than 99% refund success record over 10,000 claims, this approach is proven and effective. Braithwaite offers clients a complete host of services that are designed to maximize their Scientific Research and Experimental Development (SR&ED) Tax Credits with minimum disruption of their internal operations. Our services include:
We conduct information sessions on the SR&ED tax credit program for management and key personnel. We can also conduct workshops that will help clients implement business systems to track SR&ED costs and activities that will support future claims.
The Discovery process
On a preliminary phase, we will define whether you company qualifies for the SR&ED Tax Credit. We can also review prior years, usually one to two years, to uncover any possible unclaimed SR&ED activity. Once qualification is established, a Braithwaite technical consultant, working with the client’s internal personnel through interviews, will identify eligible activities and expenditures. Through this process we will gather all the necessary details to form the basis of the claim.
Creation of key reports
We assist our clients in preparing the required tax forms and support them by providing technical and financial reports. Using our proven case methodology, our engineers and scientists will prepare a technical report of each qualifying project. Our financial consultants, working with your financial personnel, will assign costs to the projects. Labour expenditures, subcontracting charges, material, capital expenditures and overhead will be incorporated into the claim. Then, our consultants will generate a financial report that will ultimately become the support for your tax credit calculation. This report will be used by our taxation consultants to prepare the required tax forms to make a claim.
In case CRA approaches your firm to audit your claim, we will provide assistance during the whole process. We will be present prior and during the CRA technical review visit. We will also be available to answer questions from you or from the auditors.
If the government challenges the technical or scientific integrity of a project either by rejecting it or reducing the qualified work performed, Braithwaite can submit and defend an appeal on your behalf. We support the litigation and act as expert witnesses in court cases when necessary.
Other support services
We will track your claim through the process, ensuring that there are no unnecessary delays.
Through our website, clients can keep up to date with SR&ED tax credit news, changes in the law and regulations, court cases, related industry articles and detailed information on the SR&ED tax credit program.
As well as assisting in preparing claims from start to finish, some companies require specific assistance in particular areas. We offer:
- Seminars on SR&ED matters
- Preparation of notices of objections to tax assessments
- Assistance with CRA reviews
- Helping with claims that are proposed to be denied fully or in part
- Acting as expert witness and advising lawyers in court cases
- Establishment of cost-and-activity-tracking system to document SR&ED