The Autumn Statement 2023 confirmed that the merger of UK Research & Development Tax Credit schemes will go ahead as early as next year. This change will be legislated in the Autumn Finance Bill 2023. But what does this mean for Small and Medium Enterprises? I...
Research and Development Tax Credits
Changes to R&D Tax Credits: What You Need to Know
There have been many changes made to the UK R&D tax relief schemes. Much of what was previously mooted by the Government has now been ratified and some additional details on how the changes will work are available. Headline summary: Most striking is that R&D...
Are you the subject of an HMRC R&D Tax Relief enquiry?
There has been a rash of these enquiries in these last few weeks with a deliberately scary and sometimes perceived as threatening incoming letter demanding detailed explanations of why your claim qualifies, details of how the time of staff and consultants were...
UK Research & Development Tax Credit Incentives in the News
Over the past couple of years, the UK Research & Development (R&D) tax credit schemes have been in the news constantly and often for the wrong reasons. In this post, we take a look at issues created by alleged fraud and abuse of the UK R&D incentive...
Should my business be claiming R&D tax relief?
Innovation is all the rage in business. However, it often comes at a price that can pressure any company’s finance. Fortunately, the government seeks to encourage innovation. As more businesses utilise innovation, they can improve processes, find solutions to even...
Five tips for achieving compliant cost analysis in R&D tax credit claims
UK Research and Development (R&D) tax reliefs are generous and relatively easy to claim, but in recent years HMRC has become increasingly concerned about non-compliant claims and fraud. This means companies can now expect a greater chance of HMRC scrutiny, so it’s...
Can claiming R&D tax credits help turnaround my failing company?
The turnaround and financial recovery of a poorly performing company is a complex undertaking, requiring accurate problem identification and development of a realistic improvement plan. Lack of cash is usually one of the biggest issues. An R&D tax credit/relief...
How do Research & Development Allowances (RDAs) help to buy buildings and equipment?
Research and Development Allowances can be claimed at 100% in year one, which means they provide a very generous cash releasing opportunity when you are purchasing fixed assets. Plus unlike the Annual Investment Allowance (AIA) they apply to buildings as well as other...
My business is driven by technology – can I claim R&D Tax Credits?
Maybe you are creating apps or adapting existing software for cloud delivery (SaaS), or creating tools to make sense of big data, or using CNC machines to mill complex parts, or developing wearable tech or designing new medical devices …… the list is endless. Whatever...