Claiming R&D Tax Credits: What has changed?
We have seen a raft of changes to the Research and Development (R&D) tax relief and tax credit schemes – here is a summary of what has changed and when
April 11, 2023 No Comments
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Research and Development scheme announcements in the Spring Budget 2023.
Compared to recent Budgets and Autumn statements the Chancellor was relatively quiet on the Research and Development schemes. Two changes were announced. https://www.gov.uk/government/publications/spring-budget-2023 https://www.gov.uk/government/publications/spring-budget-2023-factsheet-cutting-simplifying-tax-for-businesses-to-invest-and-grow/spring-budget-2023-media-factsheet-cutting-simplifying-tax-for-businesses-to-invest-and-grow “Boost” for R&D intensive companies. Companies
March 15, 2023 No Comments
Must read report by the House of Lords Economic Affairs Committee on “Research and development tax relief and expenditure credit”.
I would strongly recommend that anyone with interest in the R&D schemes and the current debates around them read this well considered and balanced report. It is important to consider
March 9, 2023 No Comments
The Government has launched an R&D consultation on a single R&D scheme.
R&D Tax Reliefs Review. Consultation on a single scheme. https://www.gov.uk/government/consultations/rd-tax-reliefs-review-consultation-on-a-single-scheme HM Revenue & Customs have launched a consultation based on creating one unified R&D scheme for companies of all sizes.
January 19, 2023 No Comments
Historic Cornwall rocket launch ends in failure. What research and development insights can be drawn?
UK space mission fails after rocket “anomaly”. The space sector is currently worth over £16.4 billion per year to the UK economy and employs 45,100 people. The attempt to launch
January 11, 2023 No Comments
Why recent changes to the SME R&D scheme rates mean it is more important than ever to carefully consider the option to take an R&D Tax Credit payment or not.
Full details of the autumn statement changes can be fund here. What is an R&D Tax Credit? R&D claims create an additional deduction in the tax computation. The current rate
December 9, 2022 No Comments
Huge statistical problem at the heart of the Governments poor treatment of R&D SMEs in the 2022 Autumn Statement.
The Government obviously relies heavily on statistics in its decision making. Good statistics are essential. The problem when analysing and making decisions about the R&D schemes is that a lot
November 23, 2022 No Comments
Conservatives make massive cuts to SME R&D support in the 2022 Autumn Statement and massive increases to Large Company support.
The autumn statement brought grim news for SMEs as the Government cut the SME R&D schemes. The additional deduction rate was cut from 130% to 86% and the R&D Tax
November 22, 2022 No Comments
20 years of UK Research and Development Tax Relief and Credits. A personal view on current issues.
There have been 3 distinct periods with specific themes for the R&D schemes. 2002-2009 –Little was known or understood by most companies or accountants about the schemes and there were
November 1, 2022 No Comments