If you were asked to repay $250,000 from your business … could you?
Too many R&D claimants treat their R&D tax incentive claim with a shocking lack of care, oblivious to the very real risk of an audit that could devastate their business.
Picture this: Your company successfully claims $250,000 through the R&D tax incentive. You think you’re in the clear—until an audit reveals gaping holes in your documentation.
Suddenly, you're not just being asked to repay that $250,000—you’re facing penalties, interest charges, and possibly even legal action. This isn’t just a financial setback; it’s a catastrophe! 😳
How would you explain this to your shareholders? How would you justify the loss, not to mention the damage to your credibility? The consequences don’t stop there.
This kind of financial blow could derail your entire commercialisation strategy, stalling your capital raise and putting your company’s future at risk.
Here’s the harsh reality: Large claims are magnets for scrutiny. If your R&D documentation is sloppy or incomplete, your chances of being hit with a failed audit skyrocket. Imagine having to repay not just the $250,000 but also thousands more in penalties and interest.
The financial strain could be crushing, forcing you to scramble for funds, cut essential projects, or worse—face insolvency.
This is why your R&D documentation needs to be airtight. Tools like R&D Record Finder for Jira can help you maintain the kind of detailed, audit-ready records that are non-negotiable. By treating your R&D documentation with the same rigour as your financial audits, you’re not just protecting your claim—you’re safeguarding your business, your reputation, and your investors’ trust.
A rigorous approach to R&D documentation doesn’t just protect you from financial disaster—it makes your company more attractive to investors. When they see that you’re prepared for every possibility, including an audit, they’re more likely to trust you with their capital, knowing their investment is secure.
If you were suddenly hit with a $250,000 repayment demand today, would your business survive? Are your R&D records bulletproof, or are you gambling with your future?
