Author: Georgina Swain

The architectural and construction sectors are currently undergoing a significant transformation driven by digital innovation. This shift towards incorporating more advanced digital tools and platforms in the design, planning, and execution stages is enhancing efficiencies and creating new opportunities for innovation. However, this digital evolution also introduces significant cybersecurity risks, particularly with the increasing availability of sensitive information on the dark web. Recognising these challenges,...

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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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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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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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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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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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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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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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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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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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