HMRC is proposing to run a pilot of an Advance Assurance programme for SMEs wishing to claim R&D relief. The idea in summary is that the smaller SMEs (no more than 50 employees) who are considering making their first R&D claim will be able to contact the relevant specialist R&D unit [contact details here] for [...]
One of the options put forward in the latest (June 2011) R&D consultation document is a move to an above the line credit (ATL). This proposal comes in response to comments made by various respondents to the earlier (November 2010) consultation exercise. Before looking at the answer to this question, it would be sensible to [...]
The R&D Working Group, set up by HMT and HMRC, met yesterday afternoon to get feedback from sub-groups on three specific issues: An above the line credit Subcontracting Advanced assurance These issues had been delegated to sub groups to consider and feed back thoughts. HMT indicated that around 50 responses to the consultation document had [...]
Read my response to the latest round of consultation on the R&D regimes. There are quite a few changes to the regimes being considered by HMT/HMRC and they are engaging in a useful dialogue with industry and tax advisers to ensure a good outcome. Even though the formal consultation period is over, dialogue continues; I [...]
I have argued for some time that the Externally Provided Worker (EPW) rules in the R&D legislation are flawed. They result in many genuine EPW arrangements being excluded from R&D claims and are failing to achieve their stated objectives. In a recent article, published in Tax Adviser in July 2011, I explained how the rules [...]
In fact, before looking at the question in the title, how about: why do we need to know? Well the reason is that a couple of years ago, someone at HMRC decided that an otherwise innocent sentence in the DTI (as it was originally, now BIS) Guidelines on the meaning of R&D would enable HMRC [...]
Download my response to this consultation here. This is a very important consultation as it signals HMRC's clear desire to regulate and control the 'Tax Agent' community. My sincerest hope at this stage is that as many advisers as possible have read this consultation and are responding. I have absolutely no time for dishonest advisers [...]
My response to the latest patent box consultation is available to download on this link. I think that the Patent Box is a very good idea but I am rather concerned that the final product may provide insufficient benefit to actually encourage companies to locate their patent rights in the UK. Competing regimes already well [...]
I was invited to attend a workshop last Thursday morning at the Treasury to discuss the Patent Box proposals. We were treated to presentations from the Treasury and HMRC officials responsible for the detailed design of the scheme followed by a useful Q&A session. There were no real surprises in what was said but, as [...]
On 31 May, HMRC published a consultation document entitled "Establishing the future relationship between the tax agent community and HM Revenue & Customs". If you haven't already done so, could I suggest that you read it. You may not be an "agent" in this context but you are almost certainly a taxpayer, so it will [...]