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tax relief Tag

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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21 Jul

R&D Tax Relief: New reforms announced

by Georgina Swain
in R&D Tax Relief
Comments

Following stakeholder feedback from the consultation held by the UK government, the Spring Statement 22 announced a number of beneficial reforms to be brought into effect from 1st April 2023. These include the following: Enhanced Research & Development (R&D) Tax Relief potential: Acknowledging that the appointment of overseas subcontractors and agents is sometimes absolutely necessary, the costs associated with their commissioning will continue to be allowable in...

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03 Feb

R&D Tax Relief for website and app development

by Georgina Swain
in R&D Tax Relief
Comments

A common misconception when it comes to HMRC’s R&D Tax Relief scheme, is that the only type of computer science/IT (Information Technology) projects or activities that can be claimed for under the requisite legislation, are those that exist in the domain of what are thought of as more nascent or emergent technology types. Examples here being Artificial Intelligence (AI), machine/deep learning and the use of...

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09 Dec

Landmark R&D Tax Relief win against HMRC has important implications for SMEs

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

A recent landmark tribunal victory against HMRC, pertaining to a disputed £1 million Research & Development (R&D) tax relief claim, Quinn (London) Limited v Revenue & Customs, has important implications for all limited companies seeking to claim R&D tax relief, particularly Small and Medium Sized Enterprises (SMEs). The landmark First-tier Tribunal (FTT) judgment regarding SME R&D tax relief and subsidised R&D expenditure was based upon an...

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01 Dec

Government publishes further details from its review into R&D tax reliefs

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

The Chancellor announced in his Autumn Budget that R&D tax reliefs would be reformed to support modern research methods. As part of Tax Administration and Maintenance Day, the Government has now set out further plans to continue building a modern, simple and effective tax system - which helps taxpayers get their tax right the first time - as well as the next steps for the...

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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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