Late last year HMRC circulated an in-depth collation of statistics analysing Research and Development (R&D) tax credit claims and Patent Box (PB) tax relief showing an upward trend in both the number and amount of R&D credits claimed. The latest R&D tax relief evaluation reports – covering the R&D tax relief for SMEs and the…
R&D Tax Credit Advisers There are now many advisers who prepare R&D tax credit claims on the market, although a lot of the work is very low in quality (we know because we have seen it!). Companies involved in a core R&D sector are being inundated with phone calls, letters and emails from advisers on…
Reduce your Company’s Corporation Tax by Claiming R&D Tax Credits Everyone loves paying less tax or getting a cash rebate – and R&D tax credits are an excellent way to achieve this. They’re a government incentive designed to encourage companies to innovate, and they can lead to significant savings in corporation tax. You can even…
Low Quality R&D Tax Claims HMRC are aware that a large number of low quality R&D tax credit claims are being submitted and have announced that they are recruiting 100 compliance staff this financial year to ensure claims are compliant and to undertake investigative work and risking. If you are confident that your R&D claims…
Food, glorious food! We all love and require food to survive, so it is no wonder that there are billions of pounds spent keeping up with the latest food trends and trying to stand out from the crowd. Scientific and technological advancements are enabling boundaries to be broken and the food sector to be thriving…
To make an excellent meal you need the right ingredients, and you need to know how to combine them such that they make more than the sum of their parts. Developing new composite materials is no different. Through combining ingredients, or materials, with cutting edge development, composite technologies can make vast improvements in efficiency and…
“Does this activity qualify for R&D?” This is one of the most common questions we are asked by clients and accountants, and often the answer is not easily arrived at. Software development is no exception in this regard. In fact, in a sector where new technologies can emerge, gain prominence and fade into obsolescence in…
Technological advancements and innovations are driving improvements in all areas of agriculture, from livestock producers to crop growers. Maintaining a competitive advantage in this evolving industry through research and development (R&D) helps to optimise processes and maximise efficiencies and yields, ensuring healthily returns on investment. There’s no question as to the benefits of R&D, regardless…
Sustainable energy is arguably the most pressing issue for the longevity of our planet. As such, many companies have identified the opportunities in this field and the benefits of providing green energy to consumers. With increased consumer interest in sustainable energy – and forecasts predicting up to half of the UK’s electricity will come from…
Most industries are governed by legislative and regulatory bodies, and professional associations. These bodies range from the Health and Safety Executive (HSE), the Engineering Council, British Standards Institute (BSi) and the European Union (EU) Standards bodies including CEN, CENELEC, and ETSI. On the surface, regulatory standards may appear tedious to some. However, dig a little…
You may already know this, but the Agri-Food industry is one of the most research and development (R&D) intensive sectors in the UK and Ireland. This is being driven by consumer and media preferences towards healthier diets and more sustainable living, and has resulted in an unprecedented level of activity and innovation in the industry.…
The Government announced today that it is pledging £750m of targeted support to who it describes are “the most R&D intensive small and medium size firms.” It comprises the following support: £175,000 of support will be offered to around 1,200 firms not currently in receipt of Innovate UK funding. This may well have the widest appeal…
HMRC are faced with unprecedented demand at the current time. They play a critical function in helping companies access cash that is available from R&D tax credit claims. I am giving you an update in terms of the processing of R&D tax credit claims by HMRC from direct communication we have recently had with their R&D…
These are unprecedented times in our recent history and there is significant uncertainty for most businesses. Cash generation is going to become critical over the coming weeks and months. One cash-generating option that companies need to consider is R&D tax credits. This is a lucrative tax incentive that can generate significant cash sums. Given the…
For many in the world of concrete, the process of trying something new can be daunting. Like an artist setting out to paint, innovators in this sector do not know if they will create a masterpiece or a failure. Thankfully however, many keen entrepreneurs forge forward regardless, believing for the best and enjoying the development…
