For innovative companies, R&D tax credits can be the key to unlocking growth, but the claims process can be complicated. Tracking qualifying activities, managing costs, and staying compliant with HMRC regulations takes effort and expertise.
In this third article of our series on optimising R&D tax credit claims, we’re sharing insights from our recent EmpowerRD Webinar. We spoke with industry experts: Dave Sellick, Owner of Sidgrove Accounting; Alex, Financial Controller at Streetbees; and Dr. Matthew Rix, R&D Tax Consultant at EmpowerRD.
What came to light from the discussion is how important the right tools can be in helping businesses and accountants ensure compliant and optimised R&D tax credit claims.
With that in mind, here are five of the best tools we unearthed…
1. Jira – Real-time R&D Tracking and Collaboration
Jira is a project management powerhouse that is vital for innovative companies that need detailed tracking and collaboration on complex R&D projects. It also allows technical and finance teams to keep a comprehensive project record from the start.
Dave Sellick, Owner of Sidgrove Accounting, says: “Try to keep an eye on projects from an early stage. Tools like Jira generate value when used from the start of a project.”
Alex, Financial Controller at Streetbees, agrees: “Put in regular touchpoints with the tech team… to make sure they’re logging accurately.”
Why innovative companies use Jira:
- Early tracking: Capture qualifying activities in real-time so nothing gets missed.
- Improved Collaboration: Jira is a central platform for tech and finance teams to collaborate on R&D projects and keep records consistent and accurate.
- Audit confidence: Logs of milestones and challenges create a solid audit trail for HMRC.
- Technical Documentation: Jira allows for logging of code changes, bug fixes and technical challenges overcome, as evidence of eligible R&D activities.
Time tracking is also key to showing resources dedicated to R&D projects. As Dr. Rix says “HMRC are now looking for the distribution of staff time across projects”.
Integrating time tracking software (like Tempo Timesheets, Clockify, and eazyBI) with Jira allows teams to link the time spent by team members to the specific technical tasks and issues being managed in Jira, and provide vital evidence for your R&D claim. This granular data combined with Jira’s project logs is gold dust for your R&D tax credit claim. Jira enables collaboration and makes sure no opportunity for innovation (or claiming tax credits) is missed.
2. Trello – Visualise and organise R&D projects
Trello simplifies project management with a visual, card-based platform, perfect for keeping R&D projects organised and documented. Its intuitive interface allows cross-functional teams to collaborate and track tasks, timelines and responsibilities.
Dr. Matthew Rix, R&D Tax Consultant at EmpowerRD, agrees: “It’s really good to track when a project started and how it’s changing. For ongoing or multi-year projects, tools like Trello help continuity when referencing previous claims. You can document major milestones and the uncertainties or challenges faced and how they were overcome. This project history is gold dust if HMRC asks for more info.”
Why innovative companies use Trello:
- Visualisation: Makes progress tracking and task organisation easy.
- Simple interface: Reduces the learning curve, saves time for busy teams.
- Cross-functional visibility: Trello’s interface is easy for tech teams, finance and other stakeholders to stay informed and aligned on project progress.
- Documented project evolution: Trello allows you to record key milestones, visualise project timelines and progress, challenges and solutions, a clear project history for internal and HMRC use.
Trello is great for keeping teams focused on innovation during R&D activities and providing documentation for compliance. While Trello manages the what of R&D projects, it’s often used in conjunction with time tracking tools to capture the who and when to further strengthen R&D documentation.
3. Xero – Financial data made easy
Xero is a cloud-based accounting software that integrates seamlessly with claims management tools like EmpowerRD’s platform, ensuring your R&D-related expenses are tracked and categorised correctly.
Dave Sellick explains how Xero saves time and streamlines processes: “I can jump on a Zoom call, pull costs through from Xero to EmpowerRD and work through the process quickly with clients, so finances are sorted efficiently.”
Why use Xero:
- Automated tracking: Tracks and categorises expenses accurately and automatically.
- Seamless integration: Syncs with dedicated claims tools like EmpowerRD’s platform to minimise manual input.
- Real-time reporting: Provides up-to-date reports to keep financial data organised year-round.
Xero keeps finances and R&D expenses streamlined, freeing up innovative teams to focus on what matters most.
4. Invoice capture tools – Automating admin tasks
Invoice digitisation tools like Hubdoc, Auto Entry, and Apron make data capture seamless by automatically organising invoices and receipts. They integrate with accounting platforms, making financial documentation a breeze.
Dave Sellick highlights their efficiency: “You need a tool that streamlines invoice organization. Tools like Hubdoc or Auto Entry make it much easier by auto-digitizing receipts and filing them correctly.”
Benefits for Innovative Companies:
- Reduced admin: Automated invoicing minimizes administrative burdens and reduces errors.
- Comprehensive records: Ensures all eligible costs are accounted for in claims.
- Focus on innovation: Gives teams time back to focus on innovation, not paperwork.
These tools are essential for innovative businesses managing complex expenses.
5. EmpowerRD – Your partner in R&D tax credit success
EmpowerRD works with innovative companies to simplify and optimise the R&D tax credit claims process. While the platform integrates with Xero and automates forms like the Additional Information Form (AIF) and Claim Notification Form (CNF), EmpowerRD’s real strength lies in the expertise behind the technology. The team includes domain experts with PhDs, ex-HMRC staff, narrative drafters and dedicated claim managers; all focused on helping businesses identify, document and defend R&D activities with confidence.
What sets EmpowerRD apart?
- Expert-led: EmpowerRD doesn’t just use software; every claim is guided by professionals who understand the technical and compliance aspects of R&D.
- Tailored support: Whether it’s drafting the right narrative or managing complex enquiries, businesses have on-demand access to specialists who really understand their projects.
- Built-in compliance: The whole process is HMRC compliant from the start, reducing risks and streamlining approvals.
- Efficiency and cost savings: By automating repetitive tasks—like collecting costs and completing forms—EmpowerRD saves time and costs without compromising on claim quality.
EmpowerRD is more than just a platform; it’s a true partner throughout the R&D tax credit journey, making sure each claim is accurate, optimised and HMRC-ready.
