Blog

EXCITING NEWS - WELL DONE

Date: 21st December 2018

We are delighted to announce that we have now helped companies claim over £101 million back in corporation tax relief or R&D tax credits since starting the business in September 2012.   Well done !  Wishing you all a very Merry Christmas and a Happy New Year
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Budget 2018 cap on R&D Tax Credits

Date: 30th October 2018

  The R&D scheme allows a company undertaking qualifying activity to claim a payable R&D tax credit if after the R&D enhanced deduction they are making a loss in the year concerned. Losses can then be surrendered for a tax credit on the basis of the lower of the post R&D deduction loss and the R&D enhanced expenditure (qualifying costs * 230% at present) at a rate currently of 14.5% for a cash credit. The Chancellor announced the following proposed chang...
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R&D tax credits - “We can get you more than they can!”

Date: 10th July 2018

R&D tax credits - “We can get you more than they can!” It’s not uncommon to hear of Research & Development (R&D) tax credit advisors proclaiming “We can get you more than they can” meaning that your R&D tax credit claims will be larger if you hire the proclaimer, than if you hire whomever else they are competing with. I am driven to take issue with this, and I will tell you why.  We live in a highly competitive world, so every...
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Up to date statistics on R & D Tax Credit claim values in UK – 2015 - 2016 tax year

Date: 24th May 2018

Total number of claims in year  26,255  - up 19% on previous year. Total number of SME claims in year – 21,865.  Up from 17,875 in previous year.  A 22% increase. Total cost of all R&D claims in year - £2.9 billion.  £1.3 Billion going to SMEs £16.5 Billion paid out since the start of R&D Tax Credits in 2000 -2001 from a total of 170,000 claims.   Terry Toms, Managing Director
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RandDTax Score at Wembley !!!

Date: 4th December 2017

RandDTax is delighted to announce that we won the Business Innovation Award at the National SME Awards 2017, held at the iconic Wembley Stadium. Our success is down to the support of our fantastic clients, who normally get the awards, and the "go the extra mile" ethos of our consultants. Founded in 2012 RandDTax has grown to provide National coverage with 30 consult...
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Autumn Budget 2017

Date: 23rd November 2017

The only substantive change to the R&D Tax Credit regime in the budget were around RDEC for large company claims: Rate increase from 11% to 12% with effect from 1 January 2018. Introduction of Advanced Clearance Service (The SME scheme already has Advanced Assurance) Full details can be found in section 5.5 of the
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R&D Tax Credits in the 2017 Budget

Date: 8th March 2017

The government continues its commitment to the R&D scheme. “As I committed at the Autumn Statement, we’ve reviewed, with business, our R&D tax credit regime and concluded that it is globally competitive. But to make the UK even more attractive for R&D we have accepted industry calls for a reduction in administrative burdens around the scheme and will shortly bring forward measures to deliver them.” Chancellor Philip Hammond, Budget Speech 20...
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Small and medium enterprises claim R&D relief worth over £1bn and rising!

Date: 18th November 2016

The latest statistics indicate that the number of Small and Medium Enterprises (SME’s) making R&D tax credits claims is rising year on year, with a total pay-out value of over £1b in 2014-15. “A SME may claim a higher rate of relief than a large company.  Also, a SME which has no tax bill to reduce may claim a cash payment instead.” SMEs are also gaining an increasing share of the total amount paid out by Government.  In 2014-15 the...
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Research and Development Tax Relief for Small Companies – A good thing?

Date: 2nd November 2016

The latest statistics from the National Audit Office related to R&D Tax Credits for the year to April 2015 show: SMEs benefitted by over £1billion for the first time.  A 23% increase on the previous year. Just over 18,000 SMEs and a further 2,000+ Large companies benefitted by in excess of £2.45Billion.  SME growth rate was fastest by some way. One of our Shareholders and a Principal Consultant with RandDTax, Tim Walsh BSc, MBA, CT...
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Is R&D tax relief working?? – Part 1

Date: 18th May 2016

As an RandDTax consultant, I am also in my final year of an MBA programme and I am undertaking a research project entitled Research and Development Tax Relief for Small Companies – A good thing? From our client base of over 600 I have taken a random sample and sent out a short questionnaire to explore whether R&D tax relief has influenced investment decisions in SMEs. I am also analysing the financial data to see if there is any correlation between R&...
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