R&D News. Potential merging of SME scheme and RDEC.
A consultation was held earlier in the year on this issue. Draft legislation has now been published to bring about the change. But no decision has been made so far
July 19, 2023 No Comments
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Chartered Institute of Taxation slam HMRCs “volume compliance” approach to R&D claims in open letter.
The Chartered Institute of Taxation (CIOT) is to be commended for its fine work in gathering industry feedback about the current HMRC compliance checks process as a result of recent
July 5, 2023 No Comments
Leading UK Tax professional bodies make strong criticisms of HMRCs current approach to R&D compliance checks.
An article in Tax Adviser magazine details a meeting between HMRC and representatives of the Chartered Institute of Taxation (CIOT) and the Institute of Chartered Accountants in England and Wales
May 18, 2023 No Comments
Significant 2023 changes to the R&D schemes and where you can find the new forms.
We have talked about these changes previously. The intention of this blog is to simply point to all the latest information on forms. The most immediate change that companies and
May 3, 2023 No Comments
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
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