- Best Practices
- Client Satisfaction
- Innovation Management
- Product Development
- Tax Credits
Our standard SR&ED claim preparation service includes the complete development and submission of your claim. Through our 20 years of experience, RDP has developed checklists and guidelines to ensure that claims are complete and accurate. These cover all aspects of the SR&ED claim, including areas where most companies miss out on claiming projects, activities or costs. With respect to companies that have prepared SR&ED claims in the past without RDP’s assistance, RDP focuses on what the company has not claimed. Again, through use of our checklists, guidelines and experience, RDP has historically increased claims in over 70% of the cases reviewed. Our complete claim service includes identification of eligible projects and costs, collection of technical data through interviews and documentation reviews, preparation of all project technical descriptions, preparation of all SR&ED-related tax forms, filing the claim with CRA, and defense of the claim in the event of a detailed review by CRA.
We offer a number of different service packages to meet your company’s needs.
The Innovation Connection Program
RDP has been assisting companies claim SR&ED tax credits for over 20 years. It has developed a wealth of information and a substantial databank of SR&ED tax credit claims. In addition, RDP has seen the best practices with respect to identifying, capturing and documenting eligible SR&ED projects.
RDP has developed the Innovation Connection Program with this in mind. The Innovation Connection Program connects innovation with a company’s bottom line. Given that the identification, capture and documentation of SR&ED projects span numerous companies’ departments, connections must be made between these departments and the individuals within these departments. In addition, judgement is required to ensure that projects, activities and costs qualify under the SR&ED tax credit program.
The Innovation Connection Program commences with a starter session, where RDP takes a top-down approach of the organization. The starter session is followed by a planning session where the identification of R&D projects is put into place. The implementation phase works on the capture and documentation of R&D projects via a series of progress meetings throughout the year. Finally, a review is carried out with the key technical and financial primes of the SR&ED tax credit claim for the particular taxation year.
In summary, the benefits of the Innovation Connection Program are:
- RDP is meeting with the company during the year in which R&D is taking place and not scrambling after year end to rush getting a claim in on time.
- RDP can assist in ensuring the appropriate contemporaneous SR&ED documentation is kept that stand up to CRA scrutiny.
- At year end, the technical information and cost allocations are quartered to prepare the claim quickly and efficiently.
- Meetings with client staff during the year ensures the claim is maximized, as information is being gathered as R&D is carried out, and not going from memory when claims are prepared after year end.
- The Innovation Connection Program gives structure to the SR&ED claim process providing more certainty and timely claims.
SR&ED Claim Review Service
Some clients prefer to prepare their claims independently but see the benefit of having RDP review the claim prior to submission. RDP is very current on SR&ED program issues and filing requirements, and prepares hundreds of claims each year. RDP’s review of your claim will aim to:
- Ensure the project description information contained in form T661 describes in the best manner why the projects meet the SRED criteria. The information being filed with CRA is edited to ensure the information is complete and meets CRA requirements, reducing the chance of an audit. RDP is familiar with what types of filings provoke a CRA site review and care is taken to present the information in a format that provides information strictly related to eligible SRED work; information that is concise and to the point.
- Review the documentation available to support the claim should a site review occur. RDP will review or discuss documentation to support the claim to ensure the company understands CRA requirements. Where information is deficient, RDP will advise of the appropriate documentation that should be recorded.
- Review of costs to determine if all eligible costs related to the projects identified by the client are claimed. RDP will review each project and run through all the types of costs that typically qualify, as well as those that have not been identified by the client, to determine if any of these should be claimed.
SR&ED System Audit
As most companies make SR&ED claims each year and given that the tax savings are significant, many companies have developed their own system to file claims each year. These systems however were generally developed in an ad hoc manner. RDP’s goal with our SR&ED System Audit service is to review and provide our recommendations on your systems for identifying, capturing and documenting SR&ED projects.
- Review method and procedures of selecting eligible projects.
- Review method and procedure of determining eligible activities and costs.
- Review manner in which the above information is captured in the system.
- Review the documentation to support SR&ED projects including minutes of meetings, project plans, drawings, test results, emails, pictures, logs and notebooks
- Provide report on where system is deficient and specific recommendations how it can be improved including providing templates or software to use as a tool or technique.
RDP firmly believes that if you do not have a reliable and integrated SR&ED system in place, you not only losing out on SR&ED credits but exposing your claim to being denied.
Our clients tell us that, upon implementing the recommendations provided by RDP, the claim process has resulted in less staff time required to prepare the claim; a more timely method of preparing the claim sooner in a more relaxed and complete fashion; a system that can properly support any CRA review and a certainty that all eligible costs have been claimed.
SR&ED Training Workshops
For over 20 years, RDP has been assisting companies with SR&ED claims and our SR&ED workshops have been extremely popular with our clients.
In a group setting, we review specific SR&ED projects undertaken by the company focusing on eligibility of projects, activities and costs, along with appropriate documentation.
The benefits of the workshop are as follows:
- You will learn CRA’s administrative practices in assessing SR&ED claims, which have changed substantially over the past year.
- Your staff will be gathered in a group setting, and interact on specific SR&ED projects, which creates uniformity in claims, and a consistent knowledge which maximizes SR&ED claims.
- With 20 years’ experience, and filing thousands of SR&ED claims, we provide you with the benefit of our specialized experience.
- We will introduce to you the Innovation Connection Program created by RDP, to ensure company’s filing SR&ED claims identify, capture, and properly document their claims.
- We will show you examples of what to do and what not to do in preparing a description of your projects, tailored to your industry and field of science.
- Discuss approaches for the reasonable estimation of cost allocations to a project.
- Discuss best practices and approaches for planning your future R&D around maximizing your SR&ED returns, such as how to structure contracts, implications of other government assistance, and use of contractors.
RDP has both a half-day and full day workshop, which is customized to your particular business. Prior to the workshop, specific examples are gathered to present at the workshop. The workshop can be carried out onsite or off site.