There has been plenty in the news over the past year in relation to HMRC clamping down on R&D reliefs available for companies and subsequently increasing the number of enquiries which have been launched.
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R&D Tax Relief
Don’t stop believing
With much in the media about exploitation of HMRC’s R&D scheme and increases in R&D claim enquiries, we reflect on why this shouldn’t be off-putting to clients who are considering making a claim.
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Never miss a beat
Do you think your company might be eligible for Research and Development tax relief?
If so, it’s more important than ever to be communicating with your accountant and making sure that you aren’t caught out by the new rules in place and subsequently prevented from submitting a claim.
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I don’t want to miss a thing
There have been some significant changes around the administrative side of research and Development (R&D) for companies.
One change is that from 8 August 2023, it is necessary to complete and submit an additional information form (AIF) in advance of submitting the actual claim and corresponding corporation tax return. If this is not done, the claim will get rejected.
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Research and Development – it’s not all lab coats and test tubes
Have you come across Research and Development relief (R&D) before? If you own or run a company, this relief could be hugely advantageous to you.
HMRC are really keen right now to help companies in developing new and exciting products; these range from anything to developing mobile phone apps to creating a new part for a bike; if the product is new and innovative, it could be eligible for this relief.
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Research and Development – it’s not all lab coats and test tubes
Have you come across Research and Development relief (R&D) before? If you own or run a company, this relief could be hugely advantageous to you.
HMRC are really keen right now to help companies in developing new and exciting products; these range from anything to developing mobile phone apps to creating a new part for a bike; if the product is new and innovative, it could be eligible for this relief.
Continue ReadingResearch & Development relief: Are you an Innovator?
There is a variety of tax reliefs available to small companies which are advocated by HMRC and can be used to save tax through clear and authorised methods. One such scheme is Research and Development (R&D) tax relief. This is a government incentive designed to encourage innovation by UK businesses. R&D tax relief can be equivalent to up to 33p for every £1 spent on qualifying expenditure.
Continue ReadingR&D relief: is your business eligible?
Mel Hackney gives an insight into R&D tax relief, and how many eligible businesses don't realise that they are.
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