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08 Feb

Various innovation programmes launched

by Georgina Swain
in R&D Tax Relief
Comments

There are several innovation incentives which have been launched since the start of the year, all aimed at incentivising businesses to support key government sustainability initiatives: Hydrogen BECCS Innovation Programme The Department for Business, Energy & Industrial Strategy (BEIS) has launched a new programme to help develop innovative technologies to produce hydrogen, a clean energy source, from sustainable biomass and waste. The Hydrogen BECCS Innovation Programme is funded...

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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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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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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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19 Feb

Delays to tax credits force startups to raise costly emergency funds

by Georgina Swain
in R&D Tax Relief
Comments

Significant delays by HM Revenue & Customs’ (HMRC) in the processing of Research & Development (R&D) Tax Relief claims in 2019 forced many startups to raise emergency funds. According to findings published on 16 February by the Financial Times* the long delays caused serious concerns for businesses who rely on HM Government’s investment in these reliefs to support their innovation, in particular startups who rely on...

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17 Feb

R&D tax relief claims could pay the salaries of 39,281 Londoners for a year

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

While the number of research and development (R&D) tax relief claims have increased by 35 per cent per year since the introduction in 2001 to over £4 billion last year, many UK businesses are still not fully utilising this government scheme. According to research, however, even with many not realising that the work they do may well qualify, the number of claims made does demonstrate how...

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14 Dec

Beavis Morgan R&D Tax Relief Autumn newsletter

by Georgina Swain
in R&D Tax Relief
Comments

We are delighted to announce that the first edition of our Beavis Morgan R&D Tax Relief newsletter has been published. If you have not yet subscribed to receive our newsletter, please get in touch and we will add you to our mailing list. In this and future editions, we aim to highlight pertinent developments in relation to the field of research and development tax relief and...

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