Steve Livingston

Author Archives: Steve Livingston

RD004 – Profitable / Loss-Making Companies – Which Benefit from R&D Tax Relief?

In this fourth episode of the R&D Tax Credits podcast, we cover which tax profile of company can benefit from the UK Research and Development tax relief between:

  1. Profitable SME companies – paying corporation tax
  2. Loss-Making SME companies – not paying corporation tax

There is a common misconception amongst business owners that if they fall into the second (loss-making) category then there’s no benefit to be gained from the R&D tax incentive – after all, they’re not paying corporation tax and the R&D tax incentive is a corporation tax incentive… But this is wrong.

Both categories of company tax profile can benefit with cash refunds in both cases – listen to learn more.

This podcast is brought to you by ip tax solutions – the innovation tax specialists.

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RD003 – When and Why was the UK R&D Tax Credits incentive introduced?

In this podcast episode, we consider why the UK Research & Development Tax Relief was introduced back in 2000 by the Labour Government and then we explore why it has been further improved upon by the next Government.

This podcast is brought to you by ip tax solutions – the innovation tax specialists.

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Who can claim R&D tax credits?

In this second podcast on Research & Development Tax Reliefs, we cover who can claim this generous UK tax incentive.

The R&D tax relief is administered via the UK corporation tax regime so, in essence, if your company is required to file a UK corporation tax return (posh term - 'CT600'), then you are potentially within scope for this tax relief.

Other less common eligible examples include:

  • UK branch of an overseas company - if the UK branch is filing a UK corporation tax return then it could be eligible
  • Corporate (company) partner(s) of a partnership could also be eligible.

Sole traders and partnerships are not in of themselves eligible for the R&D tax incentive.

95% of readers will have a UK limited company which means that the door is more than likely open to claim R&D tax reliefs - just need to identify qualifying activities and costs.... (more on these matters in future episodes!).

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GF014 – Need a business bank account quick? Tide might be the answer (and some)

Tide is a new challenger bank that aims to offer hassle free banking with the potential to set up a business account online within just 5 minutes.

​Here we chat to Dan from Tide on how this new offering might help fast growth companies including:

  • Hassle-free set up using the Tide app - get a sort code and bank account number within 5 mins
  • Simple charge structure - no annual fees - 20p per transaction
  • Mastercard issued for users
  • Account transaction classification, notes, uploads
  • Integrations coming down the pipeline incl with Xero etc
  • User permissions / accountant read-only access etc on its way
  • International transactions and foreign currency accounts on their way
  • Strong experienced team and financial backing behind Tide

Get 3 months free banking by using the Partner Code: IPTAX

Or visit our partner link: https://www.tide.co/ip-tax-solutions

I can see this filling a gap, especially for startup companies looking to set up accounts quickly in anticipation of fundraising under say SEIS or EIS.

Also, on the face of it there looks to be little benefit in holding out for an account with a more traditional bank - especially given the added features that Tide offers (unless you anticipate a significant number of monthly transactions).

Check out the podcast below and let me know your thoughts...

P.S. Please subscribe and leave a comment on iTunes :)

7. Don’t Forget These Important Points!

The final session in these series - here we look at some of the niggly points that you mustn't overlook when structuring tax efficient remuneration for UK director shareholders.

You can download the audio and subscribe via iTunes to get past episodes below:

5. Dividend Tax Optimisation – Part 1

In this video we dig deeper into tax strategies for using dividends as part of your overall remuneration mix as a UK Director shareholder.

Tax Efficient Remuneration Strategies for UK Directors​

Areas we cover include:

  • Dividend tax rates (hint: different to salary income tax rates)
  • ​How dividends can be structured tax efficiently alongside salary
  • Different scenarios for optimising tax savings

You can listen to the audio version below and subscribe via iTunes to pick up the entire series.

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