Filing SR&ED Tax Credits
An automotive parts manufacturer with high profits was facing high tax liabilities. Was there a way to offset these?
Scarrow Yurman & Co researched the operations and discovered that certain activities qualified for Scientific Research and Experimental Development tax credits. Although the client was reluctant to make a claim, they hired a SR&ED consultant. The results were disappointing. The claim was audited and only accepted in part. The consultant provided very little support during the audit and the client had to handle it themselves. The following tax year Scarrow Yurman & Co helped the client make the claim. It was audited again but this time it was accepted nearly 100% as filed.
Each year we successfully help the client with their SR&ED claims—thus substantially assisting with cash flow. And, since we don’t charge a contingency fee, the client’s costs are lower.