To support your R&D claim, you need detailed documentation on the following to make a technical narrative:
- The technological advancements pursued by your company
- The obstacles encountered by your company
- The resources employed the results accomplished
There is no prescribed format for presenting the information in technical documentation to HMRC. Likewise, there is no standardised template for an R&D technical narrative. Additionally, it is recommended to incorporate case studies that provide detailed explanations of some example R&D projects. These case studies serve to illustrate to HMRC that the R&D tax credit guidelines have been accurately applied and comprehended. Alongside outlining the associated costs and specific example projects, your R&D technical documentation may encompass:
- Contextual information regarding your company;
- Particulars of the key individuals involved in your projects; and
- Descriptions of the technical challenges encountered in your projects.