Expert Consultants for Innovation Funding
Empowering companies to grow with innovation funding.
BourkeHood’s team of R&D and Tax Experts can help your business thrive.
BourkeHood is a global innovation funding consultancy working across a multitude of sectors and business sizes to help clients apply for innovation funding.
Why choose us.
Research and Development (R&D) tax credits are becoming increasingly popular amongst startups and companies, as an innovative cash flow tool that allows organizations to inject funds into their projects as quickly as possible while maintaining full control of their business operations.
35+ Years of Combined Experience
22+ Different R&D Sectors Serviced
Our steps in processing your claim
Phase 1
TECHNICAL DISCUSSION
- BourkeHood’s process starts with you. In Phase 1, we assign the consultant to your case who will be working with you to explore the scope and depth of R&D amongst your business activities and projects and gain an initial understanding of the potential claim value
PHASE 2
CLAIM DOCUMENTATION
- BourkeHood takes the legwork to prepare the technical narrative and financial documentation of your claim. Our unique ‘reverse audit methodology’ minimises the risk of post-submission questions, whereas our dedicated team ensures a straightforward process
phase 3
FINANCIAL CALCULATIONS
- After collecting the necessary information from you regarding your R&D projects and costs, we calculate your eligible R&D expenditure on a project-by-project basis
PHASE 4
LODGING
- BourkeHood prepares your application for lodging which then needs to be submitted as part of your tax return together with your accountants. Once approved, you will receive your benefit
R&D Tax Incentives is a government-backed reward program for companies that incur research and development (R&D) costs.
The Incentive can be claimed retrospectively (up to 4 years in some jurisdictions) and is available to businesses of all shapes and sizes.
For small businesses, this provides an incentive to further invest in their R&D activities as they can claim this reward for spending on qualified research expenditure.
Benefits of accessing innovation credits
R&D Tax Credits can be a great source of tax relief for growing companies, especially those that are pre-revenue or between funding rounds, where other types of funding are either unavailable at this stage (like bank loans) or expensive (like venture debt). Having accessed the offset, startups can expedite further R&D activities, bring forward commercialisation plans, support further growth, delay unnecessary financing or equity injections, and satisfy ongoing cash flow requirements.
R&D Tax Credits are a non-dilutive option to manage your cashflow, allowing founders to retain full control and ownership over their business – preserving the ownership of a company for a future occasion when the product is more mature and a better valuation can be achieved.
FAQs about R&D Tax Credits
Confirming that your entity is eligible to claim R&D tax credits
To be eligible to claim R&D tax credits, your entity must meet various eligibility requirements relating to ownership structure.
Identifying core and supporting R&D activities
Core activities are those which drive the relevant R&D activity and supporting activities are those which have the main purpose of supporting a core activity.
Identifying eligible and ineligible expenditure within core and supporting activities
Various types of R&D expenditure are specifically excluded for the purposes of claiming R&D tax credits.
Complying with record keeping requirements
Contemporaneous records of R&D activities are required to be maintained to claim tax credits.
Applications for pre-approval with Inland Revenue
To improve certainty of eligibility, a pre-approval scheme has been implemented by Inland Revenue.