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taxcredits Tag

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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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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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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