If you are are preparing R&D claims for clients, or simply have clients who are making R&D claims, you cannot have missed the fact that HMRC's processing of claims (for all but the largest companies) has all but ground to a halt. HMRC provides a weekly update on its progress with R&D claims, so let's [...]
R&D tax relief is a very valuable tax relief for innovative UK companies. Many companies are successfully claiming relief each year – latest government statistics show that 25,300 companies made R&D tax relief claims in 2015/16 – although many more are clearly still missing out. Of those 25,300 companies that claimed relief in 2015/16, over [...]
In the recent case of Gas Recovery And Recycle Limited -and- The Commissioners For Her Majesty's Revenue & Customs [2016] UKFTT 746 (TC), the First Tier Tribunal had to consider when was the deadline for payment of R&D expenditure in order for it to be included in a valid R&D relief claim. Requirement for “payment” [...]
I’ve been asked a few times since last Thursday’s referendum what the implications might be for the UK’s R&D and Patent Box regimes. In terms of negative implications, the answer is that there really shouldn’t be any. Both of these reliefs are UK domestic reliefs contained within UK tax legislation and they do not rely [...]
GDS - the Government Digital Service, which is responsible for keeping Gov.UK updated - has recently posted updates to HMRC's CIRD Manual. All very boring, except for the fact that GDS seems to be struggling to actually get the update right. On the evening of 16 May an update was made to the pages covering [...]
Almost two years after first circulating a draft of the proposed new guidance on State Aid issues for SME R&D claims, HMRC has finally published that guidance. The new version of CIRD81670 was published yesterday and includes commentary on De Minimis Aid as well as links to EU guidance on State Aid matters. Having links [...]
I blogged back in November 2015 about how far HMRC still had to go to become truly digital. One of my concerns was the application process for the R&D Advance Assurance scheme - the form was to be completed online, then printed and posted to HMRC! Well, good news, HMRC has taken a small step [...]
There are 3 changes coming to R&D relief following this year’s Budget announcements. On the face of it they all sound fairly innocuous but a lack of detail at present leaves me slightly concerned about the third change. The changes are: Vaccine Research Relief (VRR) is to be abolished for expenditure incurred on or after [...]
I’ve just had an article on R&D tax relief pointed out to me. It appears on the website* of a national newspaper under the by line of one of their journalists, although it would appear to rely heavily on information and quotations provided by one firm of advisers. After reading the article I’m left feeling [...]
If you've been claiming R&D relief at the large company super-deduction rate of 130% then you should be aware that this relief ends for expenditure incurred after 31 March 2016. Whilst this is predominantly an issue for large companies, many SMEs will also find themselves claiming at the large company rate for expenditure that is [...]