SR&ED Consulting: How it Can Help Vancouver Business Owners

The government encourages businesses to be innovative, and offers significant incentives for business owners in Vancouver that do. SR&ED is the Scientific Research and Experimental Development program in Canada.

 

 

The SR&ED program is a federal tax incentive program, administered by the Canada Revenue Agency, that encourages Canadian businesses of all sizes, in all sectors, to conduct research and development in Canada. If you have questions, do not hesitate to contact us at 604-259-9937.

 

What is Scientific Research and Development

 

This program is generated towards encouraging Canadian businesses of all sizes, to conduct research and development that will lead to new, improved products, processes, devices, materials and more!

 

How to maximize your claim?

 

To maximize your claim possibilities you should ensure that your company’s technical leadership is consulted to analyze what projects and activities have been completed that could be counted for your SR&ED claim.

 

When you visit us at Innotek in Vancouver, we will:

• Screen your business activity
• Prepare a technical report
• Prepare all the tax schedules
• Submit the completed claim
• Provide support following reviews

Most business owners see SR&ED consulting as a time for innovation. Actually, it is not. Many innovative ideas would never qualify for an SR&ED tax credit. This is why it is a good idea to visit an expert for help and guidance.

 

A Tax credit, or refund that is actually substantial enough to change; the way a business operates, allows for new equipment, attracts new talent, rewards their staff, attend international trade shows, and better marketing budgets.

 

Interesting enough, the SR&ED program is the largest single source of federal government support for industrial research and development in Canada.

 

If you are a Canadian business owner who is interested in meeting with one of our consultants at Innotek, do not hesitate to call us at 604 259 9937 or click here to learn more today! 

 

7 Questions Vancouver Residents Should Ask SR&ED Consultants

Innotek SR&ED consultants in Vancouver will get to know your company and help by providing the SR&ED assistance you need for your business! Call us at 604-259-9937 today!

When you are choosing a consultant you don’t just want to pick the first one that approaches you, it is important that you take the time to ask relevant questions to determine if it is a right fit for your company or not.

Here are some questions you could ask:

How many SR&ED claims have you processed?

This question seems obvious but it is important that you understand your consultants filing background before accepting them. You want someone who has as much experience as possible and who is willing to work with you in case of a review.

Where does your expertise lie?

Different claims in different industries require different approaches, the consultant you choose needs to understand the industry. Be sure to ask how they approach the more technical side of the claim.

Who will prepare the claim?
Ask them who exactly will be preparing your claim, in larger organizations the senior person you met with initially does not always handle the claim.

What can I expect during the claim process?

This question will help you determine how much time and effort they will put into understanding the technical aspect of your claim. Well prepared SR&ED claims should start technical and end financial.

How does the payment work?

You have probably come to realize that there are fees attached to this SR&ED claim process. Some consultants will accept payment on a contingency basis while others will request upfront payment. How your fees are structured depends on the potential size of your claim and how confident you are in your claim consultant.

Having a hard time choosing a SR&ED consultant in the Vancouver area? Let Innotek professionals help you, call us at 604-259-9937 or click here to see how our consultants can meet the needs of your business.