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Author: Georgina Swain

19 Feb

Calls for Chancellor to enhance R&D Tax Relief

by Georgina Swain
in Covid-19, R&D Tax Relief, research, taxcredits
Comments

A proposal of enhancing the Research and Development (R&D) Tax Relief Scheme has been published in a report* by economic public affairs specialist, WPI Strategy, and backed by the leaders of eight major trade organisations. The modelling shows the suggested reforms, most notably, allowing the inclusion of capital expenditure in R&D tax claims, which would create £4billion of growth and 12,000 new jobs within 10 years....

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13 Jan

R&D key to the future of post-Brexit Britain

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

UK Government business support and incentives have become more important than ever to transition the potential impacts of COVID-19 and Brexit in 2021 and beyond. The government’s commitment to become a ‘science superpower’ will require increased investment in Research and Development (R&D) with the government’s long-term industrial strategy aiming to raise R&D investment to 2.4% of GDP by 2027. Alongside our scientists, Britain’s booming tech industry has...

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02 Dec

Preventing abuse of the R&D tax relief for SMEs: Second consultation

by Georgina Swain
in Covid-19, R&D Tax Relief
Comments

Comments from Beavis Morgan: At Beavis Morgan, we believe in the integrity of the Research and Development (R&D) Tax Relief scheme and welcome changes to avoid abuse thereof, but we are also committed to helping our clients make the best use of R&D credits as a valuable and legitimate tax relief to support growing businesses across a wide range of sectors. Following a consultation process, HMRC has...

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16 Nov

COVID-19 Vaccine – Research & development beyond Pfizer

by Georgina Swain
in Covid-19, development, R&D Tax Relief, research, taxrelief
Comments

This week we welcomed the news of the world’s first successful trial of a coronavirus vaccine. As we await approval, our thoughts turn to the huge task of getting millions of doses to the UK population which poses an enormous supply chain challenge.  To complicate things further, the new vaccine would need a deep–freeze delivery chain. The vaccine requires storage at -70C, significantly lower than any other...

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02 Nov

Research and Development (R&D) in Technology

by Georgina Swain
in R&D Tax Relief
Comments

Amidst a global pandemic, and with the UK’s imminent departure from the EU causing turbulence and uncertainty across the economy, it is understandable that limited companies are crying out for support from the government. But, while some schemes have been put in place to combat the economic downturn felt by both companies and individuals, such as the furlough scheme and the Coronavirus Business Interruption Loan...

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18 Sep

Case study: Businesses supporting the fight against Coronavirus

by Georgina Swain
in Covid-19, R&D Tax Relief
Comments

Research & Development (R&D) tax relief is available to businesses in the UK across all sectors who are pushing the boundaries in their area, exploring ways to improve their production or manufacturing processes, undertaking software development projects or, as is currently very prevalent, adapting processes to support the COVID-19 efforts. It doesn’t matter if another company has achieved the same end goal, or that the...

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11 Aug

R&D Tax Relief in Motorsport

by Georgina Swain
in Uncategorized
Comments

Companies that spend money developing new products, processes or services, or enhancing existing ones, are eligible for R&D Tax Relief. Technical innovation, creativity and problem solving are skills inherent in the day to day business of motorsport and precision engineering. It’s the close correlation of these skillsets with the pre-requisites for a successful R&D claim that have led many businesses in the motorsport industry to take note...

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11 Aug

Responding to the COVID-19 pandemic – R&D Tax Relief

by Georgina Swain
in Covid-19, development, R&D Tax Relief, research, taxcredits, taxrelief
Comments

The dramatic spread of COVID-19 has disrupted lives, livelihoods, communities and businesses worldwide. Small, medium and large businesses across the UK and abroad are coming together and innovating to minimise the impact on public health and to limit disruptions to economies and supply chains. We have seen 3-D printing manufacturers adjusting their processes to produce ventilators and respirator components, technology and engineering businesses collaborating in response to...

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15 Jul

R&D Tax Relief – What IT/software projects and activities qualify?

by Georgina Swain
in development, IT, R&D Tax Relief, research, taxcredits, taxrelief
Comments

There are many preconceptions businesses have that they “don't do research & development” and therefore won’t qualify for Research & Development (R&D) Tax Relief. In this blog, Simon McCarthy within Beavis Morgan’s specialist R&D Tax Advisory team, looks at the various types of IT/software projects and activities applicable for R&D tax relief, and why so many businesses are missing out on this valuable opportunity to...

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