Getting R&D Ready to Boost Your Cash Flow

R&D Readiness Record-keeping

To demonstrate:

The following records maybe suitable:

R&D activities were undertaken ‘for’ the R&D entity The registered R&D activities took place The registered activities satisfied the definition of ‘core’ or ‘supporting’ R&D activities

Contract(s) between entities concerning the R&D activities and amounts that will be paid, invoices (narrations are important), email traffic and other records of communication Photos, videos, plans, progress reports, meeting notes, test results and physical evidence (e.g. scrapped prototypes)

There must be evidence for all criteria.

Correspondencewith or reports from experts in the field (can include the R&D entity’s personnel), IP search reports*, literature reviews, scholarly articles, plans, progress reports, meeting notes and test results Contract(s) between entities concerning the R&D activities and amounts that will be paid, invoices (narrations are important), banking records, tax returns and records (of entities paid by the R&D entity), payroll records and financial statements Contract(s) between entities concerning the R&D activities and amounts that will be paid, invoices (narrations are important), email traffic and other records of communication, physical evidence, employee timesheets

R&D expenditure was incurred by the R&D entity

R&D expenditure was incurred on registered R&D activities