Latest Articles
R&D Tax Relief: The Merged Scheme – Subcontracted R&D
The introduction of the new merged R&D tax relief scheme from 1 April 2024 has attempted to clarify the rules surrounding subcontracting expenditure.
R&D: HMRC Tax Compliance Checks and Enquiries
As the number of companies benefiting from the Research and Development (R&D) Tax Credit system has grown, so have HMRC's efforts to prevent erroneous claims.
Changes to HMRC Guidance on R&D: Contracted and Overseas
Last week, HMRC published their draft rules and restrictions on contracted-out R&D and overseas workers. Overseas expenditure draft guidance has remained relatively similar to its original however there has been some significant and promising changes to contracted-out R&D compared to previous communications from HMRC.
Exit planning – substantial shareholding exemption
The optimal time to sell a business can be influenced by the potential tax implications. UK Corporate sellers can claim the “substantial shareholding exemption” (“SSE”) to exempt a gain on a sale from corporation tax.
R&D Tax Relief changes
HMRC is currently scrutinising claims for R&D tax relief, following increased media attention and parliament focus. The government has recently made its first steps towards reforming the R&D tax relief scheme, but the biggest changes are due to come into force on 8 August 2023.
Research and Development Tax Credits update from the Autumn Statement
For UK start-ups and small enterprises, the Chancellor significantly reduced R&D Tax Credits in his Autumn Statement.