Swanson Reed’s Academic Research

TaxTrex was the result of academic research published in the Journal of Accounting and Taxation into the R&D claim process. It was designed specifically to help accountants and their clients document the R&D process in line with the requirements of HMRC and recent case law.

R&D tax relief requires the taxpayer to document the experimental process and the new knowledge generated. These strict requirements have increased the administrative burden of the entire R&D process.

TaxTrex was designed to provide a simple and systematic alternative for companies wishing to claim. Three surveys, completed in real-time, prompt the taxpayer to document the following information:

• The level of knowledge at the commencement of the project
• The new knowledge generated through experimental activities and their outcomes
• That the purpose of all activities was to generate new knowledge
• The relationship between the R&D activities and any qualifying indirect activities

Each of the items above has proven to be essential to any R&D tax relief claim.

This research was published in a leading tax journal, Journal of Accounting and Taxation.