The June/July edition of HMRC Tax Investigations Enquiries and Powers magazine was published today, featuring an article from MD, Paul Rosser. You can find it here...
Read MoreThe R&D tax relief landscape is not a pretty one at the moment. Issues around high levels of inaccurate and/or fraudulent claims being submitted have been all...
Read MoreHistorically, HMRC has checked very few R&D claims which has led to two main problems: Claimants/advisors receiving no feedback on claims they have submitted an...
Read MoreHistorically, HMRC has checked very few R&D claims which has led to two main problems: Claimants/advisors receiving no feedback on claims they have submitted an...
Read MoreAs anyone involved with R&D claims will be aware, for some time the ISBC R&D Tax Credit Compliance Team has been using “Open source research”, a...
Read MoreSomething we keep hearing at the moment from prospects is “We have worked for several years with another advisor, but they have said for our next claim they c...
Read MoreEver since HMRC increased its compliance activities in relation to claims for R&D tax relief, many companies have been shocked to find that their claims are act...
Read MoreIf a company has its R&D claim rejected by HMRC, it can take its case to a First Tier Tribunal (FTT) to obtain a ruling as to the validity of the claim, but doe...
Read MoreWhen HMRC introduced the Additional Information Form (AIF) last August, it was designed to allow much improved screening of R&D claims as it meant HMRC could ch...
Read MoreLINK: ‘HMRC gave me £49,000 tax relief, but wants it back’ – BBC News The BBC article caused a little stir this week and although we usually we...
Read MoreQuite a few changes have been happening with R&D tax relief over the last year or so and the Government has just announced the next on the list. The current S...
Read MoreI’ve just been thinking about how the conversation between us and our prospects has changed significantly over the last decade or so. Prospects used to come to ...
Read MoreHMRC, for small/medium R&D claims, has recently moved away from having a dedicated inspector assigned to compliance checks (a.k.a an enquiry) in favour of a mor...
Read MoreIf HMRC decide to check your R&D claim, they will first write to you informing you they are opening an enquiry and they will also ask for some more information....
Read MoreReceiving a letter from HMRC saying that they are opening a compliance check (aka an enquiry) into your company’s tax affairs to ensure the right amount of tax is...
Read MoreSoftware-based R&D claims can be one of the trickier types of claims for accountants to understand as, unless they also have a background in computer science, b...
Read MoreThis is currently a very pertinent question as evidence received at the end of 2022 by the Chair of the Economic Affairs Finance Bill Sub-Committee stated: “S...
Read MoreIf so, you may not be able to claim R&D tax relief on this, even if you have done so in the past. What is the rule on subcontracted R&D? The relevant legisl...
Read MoreLast year, the House of Lords opened an enquiry into the changes with regards to R&D tax relief in the draft Finance Bill 2022–23 and undertook a consultation...
Read MoreMarketing from consultancy firm Catax estimated a few years ago that £84billion of R&D tax relief remains unclaimed. This is a ridiculous statement and one t...
Read MoreWe have been saying for a while that exciting things are happening within the R&D tax relief space but, unless you are actually working within this space, there...
Read MoreChanges are coming to the R&D tax relief schemes in respect of accounting periods beginning after 1 April 2023. We have known this for a while but have been a...
Read More“Exciting times” and “Research and Development Tax Relief” are not usually terms you will see used together but this is what we are heading towards. Researc...
Read MoreHMRC has paused some R&D tax credit payments while it investigates some irregular claims. It hasn’t given much further information apart from to highlight...
Read MoreThere are a number of steps which must be taken when compiling a robust R&D claim. Some of these can be automated to a degree but there is no software currently...
Read MoreCurrently, there is no requirement to provide supporting documentation when making a claim for R&D tax relief – it is advisable to do so though. New legisla...
Read MoreIt’s very difficult to give examples of HMRC approved R&D activity as HMRC do not check most R&D claims so even those which seem to have been ‘a...
Read MoreIt’s very difficult to give examples of HMRC approved R&D activity as HMRC do not check most R&D claims so even those which seem to have been ‘a...
Read MoreIn the UK, there are currently two R&D tax relief schemes – SME (Small & Medium Enterprise) and RDEC (Research and Development Expenditure Credit). Usuall...
Read MoreWe already knew that quite a few exciting things were going to be happening in the world of R&D tax relief. HMRC has been talking for a while about the reform...
Read MoreCompanies don’t qualify for R&D tax relief. It is the activities and costs within a specific accounting period which can qualify for R&D tax relief. Thi...
Read MoreResearch and development has been stated as being ….. “activities that companies undertake to innovate and introduce new products and services” “when busine...
Read MoreWe often hear from companies that they don’t believe they are eligible to claim R&D tax relief as, for the majority of their work, they are acting as subcontr...
Read MoreWell, the simple answer is “it depends”. Some accountancy firms employ specialist staff to help their clients submit claims for R&D tax relief so, in that c...
Read MoreR&D claims for software development are one of the more complex areas when it comes to R&D tax relief as the sector moves really quickly. What might be co...
Read MoreWhat does an R&D consultancy firm actually do? An R&D consultancy firm should first ensure that the projects undertaken by a company meet the criteria for...
Read MoreWhat is an enquiry? We’ve mentioned before that HMRC does not check all R&D claims. However, it will investigate some to ensure that the claim and correspon...
Read MoreWhen deciding on a consultancy firm to assist with your R&D tax credits claims, it can be very difficult to tell the good from the bad. Whilst there are a numbe...
Read MoreThere are two R&D tax relief schemes – SME and RDEC. SME R&D tax relief offers a much more generous benefit than RDEC but a company cannot choose which ...
Read MoreHMRC has announced that from April 2023 several significant changes will be introduced to the R&D tax relief schemes. We are currently waiting for it to release...
Read MorePayable Tax Credits are one of the benefits of an R&D claim which surrenders losses to create a payable amount to the company from HMRC. Many R&D consulta...
Read MoreThere were a few R&D related points announced in the Autumn Budget. These and our thoughts on them can be found below: “To ensure the R&D tax reliefs co...
Read MoreWe recently ran the numbers and 50% of the prospects we speak to are not eligible for Research and Development Tax relief. It’s easy to see these calls as a was...
Read MoreIn the 2018 budget the government announced a cap on payable tax credits* of 300% of a company’s PAYE/NIC liabilities as an anti-fraud measure and a way to preven...
Read MoreThe September 2020 Research and Development Tax Credit Statistics have just been released. There is a lot of data which can be reviewed here but HMRC have listed ...
Read MoreThis week we ran a webinar on R&D Tax Relief, the rules and the dangers. You can find it here: https://vimeo.com/436058857/224bb566e9...
Read MoreWhile we cannot guess what the long term effects to the business will be, at the moment, we are not seeing too much disruption. All employees are working from hom...
Read MoreThe budget earlier this month held some good, though not unexpected, news for those claiming R&D tax relief. The proposed increase to the RDEC rate will go ahea...
Read MoreA few months ago, we moved to a 4-day working week for all full-time staff. This was not about compressed hours or a drop in salary but an extra day off a week as...
Read MoreEvery Autumn, Research and Development Tax Relief statistics are released. These can be quite dry reading but do give some useful insights into the number and val...
Read MoreThe simple answer to this is that, even though a claim for R&D Tax Credits would generally be filed by your accountant as part of your annual tax return, your a...
Read MoreR&D Consulting are proud to be sponsoring the 2018 DevelopHer awards. The awards are designed as recognition of the contribution women are making in this indu...
Read MoreThe main risk of submitting an R&D claim is that HMRC could open an enquiry. This doesn’t mean that they have rejected your claim, just that they have some ...
Read More| - Jun 24, 2024 | |
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Are HMRC doing anything to stop dishonest R&D advisors? - Jul 11, 2024 |
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Are HMRC’s compliance activities working? - Jul 09, 2024 |
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Don’t believe everything you read - Jul 04, 2024 |
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Why are many R&D advisors ‘at capacity’? - Jul 02, 2024 |
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