Tag Archive: R&D
R&D Tax Reliefs Reforms: What you need to know
Posted 8th August 2023 at 9:03 am
Over the last 12 months the R&D industry has gone through a significant transformation in an attempt to reduce the level of non-compliance in the R&D Tax Reliefs. The SME scheme has, by many, been seen as a lucrative industry which allows claimant companies to recoup costs for the previous two accounting periods; this has led to concerns over abuse and boundary-pushing involving R&D tax reliefs growing in recent years, particularly amongst SMEs. While any scheme that provides financial support to large numbers of claimants contains an inherent risk, the Government launched a review of the R&D tax relief schemes... Read more
R&D Relief: Why there’s never been a better time to claim
Posted 5th December 2022 at 10:47 am
Following the Autumn Statement, this blog will show you why there will never be a better time to claim Research & Development Tax Relief, how capital allowances just became a whole lot more valuable, and why R&D allowances remain an under-claimed opportunity. We also look at the benefits of Investment Zones, and why you should not forget about the Patent Box. R&D tax relief – remains an extremely valuable relief to claim It’s been no secret that one area which has been widely scrutinised in recent months, and has become a target area for clamping down on boundary-pushing and... Read more
HMRC shows interest in R&D claims
Posted 23rd March 2021 at 12:18 pm
In recent weeks, HMRC have issued a number of informational letters to companies that have previously claimed R&D tax relief. These letters advise companies to check that their previous R&D claims meet the Business, Energy and Industrial Strategy (BEIS) guidelines, and to amend any claims made in error. The letter states that during compliance checks carried out by HMRC there have been particular issues with software claims, because the software claimed for does not create an advance in the field of software development. In addition there have been issues with claims that do not seek to make scientific... Read more
Specialist Tax: Rewarding innovation in science and technology
Posted 13th June 2020 at 11:57 am
It’s fair to say that the last few months haven’t exactly been great for business, and most of our finances could do with a bit of a boost! It’s possible that individuals and businesses are missing out on claiming tax benefits for specialist tax areas, just because they are little known or not well understood. In this first of a series of blogs, we look at some of the different types of specialist tax schemes that your business might be eligible for. Research & Development (R&D and RDEC) Companies carrying out qualifying R&D activities can claim significant corporation tax... Read more