by Adam Park | Jan 27, 2023 | Uncategorized
As the deadline for tax return filing approaches, many firms may be preparing their Research and Development (R&D) Tax Relief claims for the first time. Despite some general knowledge of the process, there are various factors taxpayers should consider when filing...
by Adam Park | Dec 21, 2022 | Knowledge Bank
Costs involved in R&D are tax deductible and there are two ways in which R&D costs can reduce a companies Corporation Tax liability. Firstly – with the usual deduction of 100% of the cost from your companies profits. In addition, the R&D Tax...
by Adam Park | Sep 22, 2022 | Uncategorized
HMRC has recently set out its upcoming reforms to the R&D Tax Relief schemes that will form part of the next Finance Bill. Alongside some minor legislation updates to address anomalies in the schemes, the reforms as they stand will cause four major changes to the...
by Adam Park | Jun 16, 2022 | Uncategorized
Last month HMRC announced its slowing down payments on several R&D tax credit claims. This is to help focus on combating fraud and abuse of the scheme. The announcement follows recent reports that there has been an uplift in the volume of fraud in R&D tax...
by Adam Park | Apr 12, 2022 | Knowledge Bank, News
The Chancellor of the Exchequer, Rishi Sunak, has set out the UK Government’s latest spending plan in the Spring Statement. Although traditionally the Spring Statement is an update on the current state of the nation’s finances as well as future expectations, this year...
