The Government understands that if the UK is to remain competitive, then R&D is vital. R&D incentives not only appear to be here for the long term, but also likely to be enhanced over the years. However, whilst the number of firms spending money on R&D is rising, there is still a long way to go in raising awareness about … GO TO PAGE ….
Contrary to popular belief this area of tax planning is not restricted to ‘white coats and revolutionary inventions’. In fact, it is available to many types of limited companies that are developing their own products and processes. Qualification criteria: Limited companies, trading for a minimum period of 18 months, with an annual turnover of £250,000 or above. Limited companies can claim … GO TO PAGE ….
Each year the Government sets aside billions of pounds to support and encourage innovative, efficient business practice. According to HMRC figures (from Autumn 2017) between 2000-01, when the R&D tax credit schemes were launched, and 2015-16, over 170,000 claims have been made and £16.5 billion in tax relief claimed. However, year on year the vast-majority of funding goes unclaimed. Many … GO TO PAGE ….
This can be extremely costly if your business activities qualify for the generous R&D tax relief scheme, yet your Professional Advisers (Accountants/Business Coaches) are either, unaware of your exact activities and/or do not understand the R&D scheme well enough to maximise a legitimate claim. Case Study 1) Frustration Personified! A recent case where we were introduced to … GO TO PAGE ….
If your clients have the stick or twist dilemma of knowing that they should invest in technology and/or new products and procedures just to stay afloat, let alone grow. It could be wise to establish what tax incentives (if any) are available to them before deciding on the most appropriate course of action. As Business Owners ourselves, we understand this … GO TO PAGE ….
The more complex, bespoke websites can be classed as research and development projects… Generally, simple websites using tried and tested technologies do not qualify. Projects most likely to be eligible are the complex, bespoke jobs, where the work crosses over to the back end of the site and where innovative solutions and technologies are required. Developers: the Client can therefore … GO TO PAGE ….
If you have the dilemma of knowing that you should invest in technology and/or new products and procedures just to stay afloat, let alone grow. It could be wise to establish what tax incentives (if any) are available to you before deciding on the most appropriate course of action. As Business Owners ourselves, we understand this dilemma, especially if this … GO TO PAGE ….
There have long been calls for the UK to re-balance its economy, a task made more urgent if the City of London’s big financial firms slim down operations after Brexit. As quoted Prime Minister Theresa May’s, so-called Modern Industrial Strategy for a post-Brexit UK will “Put an emphasis on technical education”. “Will be underpinned by a new approach to government, … GO TO PAGE ….
Do your business activities qualify for the generous R&D tax incentives? Qualification criteria: * Limited Company * Trading for at least 18 months * Minimum turnover of £500,000 Are you carrying out qualifying R&D activity? – The Key Questions: * Are you attempting to develop a new (or bespoke) product? * Are you trying to achieve something that has a … GO TO PAGE ….
Research & Development tax relief was introduced in the year 2000 as an incentive to drive business innovation and therefore wealth creation in the UK. Even up until recently, Chancellor Philip Hammond insists the UK’s R&D tax relief scheme is “globally competitive”. To be fair the Government seems to be putting the money where it’s mouth is in terms of … GO TO PAGE ….