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The merged R&D scheme (effective for APs beginning on or after 1ST April 2024) has brought about seismic changes to how R&D tax claims are made. Effective for accounting periods beginning on or after 1ST April 2024, the new scheme brings with it new rules, regulations and rates. Explore the key changes and the impacts the merged scheme will have.
In a recent decision, a First-tier Tribunal denied R&D Tax Credit claims totaling £665,000 for Till Plus Ltd, citing issues with payment and the qualification of the work as R&D. Despite correct payments, the activities failed to meet R&D criteria due to inconsistent descriptions, lack of technological advancement, and insufficient evidence. Read the specifics of this case and how HMRC made this decision.
In a big step forward for R&D Tax Credits, HMRC has recently lost a case at the first-tier tribunal against software company Get Onbord Ltd. This decision is a fantastic demonstration of the realities of software development and the use of existing technologies. We have summarised the tribunal case document and highlighted our key takeaways.
Explore who can claim R&D Tax in the UK, what activities qualify, and some of the key criteria. Understanding who can claim and what activities qualify for R&D tax can often be quite complex. We shed some light on these aspects, helping businesses navigate the R&D tax relief landscape with greater confidence.
When a project encounters uncertainty, a company often outsources part of the R&D work to a specialised firm. New rules for contracted-out R&D now require customers to show they 'intended' or 'contemplated' the necessary R&D. Our article explores this concept, and examines examples of what 'contemplated' means.
Innovation is the cornerstone of progress in today's fast-paced world, and research and development (R&D) is the engine that propels it forward. Whether you are a start-up or an established enterprise, your ability to innovate often hinges on your R&D budgeting strategies.
Discover how companies approach securing intellectual property through patents and whether these costs qualify for R&D Tax Relief. Learn about alternative incentives like the Patent Box scheme to maximise returns on innovation investments.
Discover what scientific or technological uncertainty means for R&D tax relief. Learn how businesses can assess and document these uncertainties to qualify for tax benefits, ensuring projects meet the criteria set out in the guidelines.
R&D claims allow companies to recover a portion of the expenditure incurred on R&D activities in the form of tax liability reductions or in some instances, payable cash credits. But, does an R&D Tax Claim always benefit cash flow?
The Patent Box scheme allows UK companies to apply a lower Corporation Tax rate to profits from patented inventions, boosting the financial health of SMEs. Learn about the application process, the financial impact on SMEs, and gain strategic advice for maximising benefits.
Assists organisations in accessing research and development grant funding across a range of UK and EU schemes and industry sectors.
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