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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News update for accountancy Firms and companies claiming R&D Tax Credits

Date: 4th May 2016

New Template on supporting narrative and date requested with claims. HMRC have now introduced a new Template covering the supporting narrative and data they want to see with R&D Tax Credit claims. This includes the following information (and more) for R&D work carried out in the relevant accounting period for each project: • Explanation of advances in knowledge or capability in science or technology sought. • Description of scientific or...
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R&D and Financial Record Keeping

Date: 14th April 2016

Note: All articles in this blog are intended to provide general guidance only. Please contact us for specific guidance for your particular circumstances. R&D Tax relief is a very valuable benefit to companies undertaking R&D, often saving between 25% and 34% of R&D costs and providing welcome cash flow into the business at critical times. However, frequently overlooked is the need to ensure adequate record keeping to evidence your company’s R&D expenditure...
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