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Audit Checklist - For R&D Projects relating to the Biotech Industry


If your company claims R&D Tax, it is critically important that you have the information and documentation to substantiate your R&D Tax claim.

We've created an Audit Checklist for R&D projects relating to the biotech industry so you can ensure that you are prepared for the event of an audit.


Do you need help defending an Audit? Click here for some advice.

Enter your contact details to access the checklist
 
 
 
* Company Name:
   
 
 
 
* Contact Name:
   
 
 
 
* Email Address:
   
 
 
 
* Contact Phone:
   
 
 
 
Do you have records/ documents that demonstrate you carried out the experiment/s for your registered core activity?
 
Yes
 
No
 
 
 
Can you explain how you established that the outcome of each experiment could not be determined in advance? (you will need to comment on the knowledge gap that existed when the registered core activity was undertaken.)
 
Yes
 
No
 
 
 
Can you outline what new knowledge, in the form of new or improved products, processes or services, was produced as a result of carrying out the project?
 
Yes
 
No
 
 
 
Do you have documents to demonstrate that a knowledge gap existed at the commencement of the project?
 
Yes
 
No
 
 
 
Can you explain how the new knowledge is more than a simple progression from what is already known or how it is more than applying existing knowledge in a different context or location?
 
Yes
 
No
 
 
 
In order to establish that your experiments for the registered core activity employed the scientific method, you will need to answer the following questions:
 
 
Which of the following scientific principles was your project based on (please tick all that apply):
 
Scientific Principles
 
Engineering Principles
 
'Know How'

 
 
 
Can you describe the hypothesis that the experiment/s was employed to test?
 
Yes
 
No
 
 
 
Can you describe the results of the experiments and the conclusions you reached?
 
Yes
 
No
 
 
 
For biotech developments claimed as a core activity, can you describe the hypothesis, experimentation, observation, evaluation and conclusions?
 
Yes
 
No
 
 
 
Can you provide documentation which support your core and supporting activities? For example, if this involved the development of Phase I, II or III clinical trials, the records should show how the company researched and established that no existing products offered a suitable solution and the reasons why.
 
Yes
 
No
 
 
 
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