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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.
Innovate UK Smart Grants are funding opportunities provided by Innovate UK, which is part of UK Research and Innovation (UKRI). These grants aim to support game-changing and commercially viable research and development innovations that can significantly impact the UK economy.
CIOT (Chartered Institute of Taxation) as a professional accounting body have previously raised concerns with HMRC through open letters sent in July 2023, December 2023 and May 2024. The concerns addressed in the letters have focused on several key areas related to HMRC's approach that affect their charter.
Assists organisations in accessing research and development grant funding across a range of UK and EU schemes and industry sectors.
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