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Author: Georgina Swain

12 Jun

Driving Sustainable Architecture: Maximising Benefits with R&D Tax Relief

by Georgina Swain
in R&D Tax Relief, taxrelief
Comments

Article first written for RIBA members and posted on the RIBA website. Sustainability has emerged as a paramount concern in the architectural industry today. The integration of sustainable practices and technologies not only helps protect our environment but also yields healthier, energy-efficient buildings. Recognising the significance of sustainability and the substantial investments architects make in research and development (R&D), Beavis Morgan R&D, a specialist adviser to...

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04 May

April 2023 changes to R&D Scheme – How will this impact your business?

by Georgina Swain
in R&D Tax Relief
Comments

In our recent webinar, we looked at the changes to the R&D Tax Relief scheme which came into force in April 2023 and discussed how businesses can prepare for these changes. We also highlighted the potential benefits and drawbacks of the new scheme and provided practical tips on how to maximise your R&D Tax Relief claim under the new rules. Here is a summary for those...

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16 Mar

Research and Development (R&D) Relief – Spring Budget 2023

by Georgina Swain
in R&D Tax Relief, research
Comments

For expenditure on or after 1 April 2023, the Research and Development Expenditure Credit (RDEC) rate will increase from 13% to 20% but the small and medium sized enterprises (SME) additional deduction will decrease from 130% to 86% and the SME credit rate will decrease from 14.5% to 10%. A higher rate of SME payable credit of 14.5% will apply to loss-making SMEs which are...

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08 Mar

HMRC see an increase in fraudulent claims for R&D tax relief

by Georgina Swain
in R&D Tax Relief, Uncategorized
Comments

HMRC state that they have seen an increase in fraudulent claims for Research & Development (R&D) tax relief. They believe companies in certain sectors are being deliberately targeted by third parties to make inaccurate R&D claims as an amendment to their Company Tax Returns. As a result of this, they are increasing their compliance enforcement activity. As part of a “One to Many” letter campaign, HMRC...

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05 Mar

Understanding R&D Tax Credits – FAQs

by Georgina Swain
in Uncategorized
Comments

The UK Government’s Industrial Strategy has committed to increase investment in research and development (R&D) in the UK to committing to a £39.8 billion R&D budget for 2022-2025 to help deliver the government's Innovation Strategy and drive forward ambitions as a science superpower. The allocations will help the government reach the goals set out in the Innovation Strategy. These investments will also help the UK reach...

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08 Feb

Important R&D changes from April 2023

by Georgina Swain
in development, R&D Tax Relief, research, Uncategorized
Comments

The government are committed to a number of important changes to Research & Development (R&D) tax relief from 1 April 2023. It also looks increasingly likely that the two existing systems will be merged into a single system in future years and we hope to hear more in the March 2023 Budget. We already know that there will be a significant reduction in the tax relief...

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19 Jan

Government proposes an overhaul to R&D tax credits for SMEs

by Georgina Swain
in R&D Tax Relief
Comments

In a consultation document published on 13 January, the government said that there was "justification to the case for further support" of small and medium-sized businesses (SMEs). Following plans to eliminate an existing incentive, the government has proposed introducing R&D tax breaks for SMEs. In November's autumn statement, Chancellor Jeremy Hunt reduced R&D incentives and rebalanced investment incentives in favour of larger companies, sparking a backlash from...

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18 Nov

Autumn Statement 2022: Rebalancing of R&D Tax Relief

by Georgina Swain
in R&D Tax Relief
Comments

In Thursday’s Autumn Statement, the Chancellor announced changes to both the large company and SME Research & Development (R&D) tax relief schemes in an attempt to rebalance them and ensure taxpayers’ money is effectively spent. The following changes will apply to expenditure incurred on or after 1 April 2023: The additional deduction for claims within the SME scheme will be reduced from 130% to 86% ...

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01 Nov

Creating value through innovation

by Georgina Swain
in R&D Tax Relief
Comments

Innovation has generally been recognised as essential for value creation, both for individual companies and for the UK economy as a whole. The development of new ideas, processes and technologies and their flow across different sectors is a significant driver of economic growth and productivity. Recently, innovation has also been identified as crucial to the transition of the economy away from fossil fuels and carbon-intensive...

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18 Oct

Made Smarter Innovation Alley 2022

by Georgina Swain
in R&D Tax Relief
Comments

Businesses can now apply for a chance to exhibit for free at Made Smarter Innovation Alley, part of Smart Factory Expo. It is taking place during the Digital Manufacturing Week in Liverpool from 16 to 17 November 2022. Innovation Alley provides a space for innovators to showcase new and developing technologies that will change the landscape of UK manufacturing over the next five to ten years. Fully...

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