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 Overseas expenditure draft guidance has remained relatively similar to its original however there has been some significant and promising changes to contracted-out R&D compared to previous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.
Research and development tax relief – too good to be true?
Research and development tax reliefs can provide substantial help to businesses investing in innovation – but HMRC is increasingly cracking down on unjustified claims, says Sam Palmer of Lovewell Blake.
Research and Development Alert - R&D Tax Credit payments
HMRC announced yesterday that some R&D Tax Credit payments will be suspended whilst it investigates fraud and abuse of the incentive programme.
Key differences between the SME and RDEC schemes?
The Research and Development (R&D) tax relief schemes can provide valuable reliefs and tax credits to innovative companies. The two schemes are the Research and Development Expenditure Credit (RDEC) scheme, and the Small and Medium Enterprise (SME) scheme, with differing levels and methods of reliefs. It is important to know which of these schemes your company falls into when making a claim but making that determination can often be complex.
R&D Tax Relief: FTT ruling to benefit SME claimants
R&D tax credits can provide vital support to innovative businesses. The scheme available to small and medium sized enterprises (SMEs) can provide an enhanced deduction (up to 230% of qualifying expenditure) against taxable profits and/or a cash repayment.