How to claim enhanced Research and Development (R&D) Tax Relief?

The UK Research and Development (R&D) Tax Relief Scheme is delivered via HMRC’s corporation tax filing system. After each financial accounting period, a company is required to prepare statutory accounts along with a corporation tax computation. The corporation tax computation calculates the tax liability of the company for the period (if profitable) based on the statutory accounts. … Read moreHow to claim enhanced Research and Development (R&D) Tax Relief?

Summer Budget 2015: Key tax changes for entrepreneurs

Listen to an audio version of this Summary Budget 2015 round up of the key tax changes impacting on entrepreneurs or read the text version below: An audio download link is available at the end of this post! Reduction in Corporation tax Continuing George Osborne’s pledge to make the UK one of the single most … Read moreSummer Budget 2015: Key tax changes for entrepreneurs

Two common R&D tax credit stumbling blocks for start-ups

Picture the scenario: a new technology startup. The founders invested £250,000 into the development of some new technology. The company is burning through the cash at a rate of knots and so they’re looking forward to recouping a chunk of it by claiming R&D tax credits under the ‘R&D tax credit scheme’ – something they’d … Read moreTwo common R&D tax credit stumbling blocks for start-ups

R&D tax: 5 common misconceptions

I could probably give you 25 misconceptions that I hear on a daily basis but, for now, here are 5 common misconceptions regarding the UK R&D tax relief: “You need to have paid corporation tax to receive an R&D tax credit cash payment from HMRC” – wrong! HMRC will help you supplement your development costs … Read moreR&D tax: 5 common misconceptions

HMRC R&D Tax Credits: How hard is it to file a claim?

So you’ve had a good look at the activities of your company and think you might have a qualifying claim for Research and Development (R&D) Tax Credits – but what next? HMRC R&D tax credits can be successfully claimed by UK companies across all industry sectors – from builders to engineers to manufacturers to technology … Read moreHMRC R&D Tax Credits: How hard is it to file a claim?

10 Year End Tax Planning Tips For SMEs

You have the opportunity to structure your business finances in ways that preserve more of the wealth that you create. This takes advance planning. Don’t miss this opportunity. To help, here are 10 pre-year end tax planning tips that entrepreneurs should be actively considering to reduce corporation tax, income tax and national insurance costs: Don’t pay … Read more10 Year End Tax Planning Tips For SMEs

Blueprint for Technology demands an innovative tax blueprint

And so David Cameron continues to make the right noises about making the UK a centre for hi-tech digital, technology and creative businesses – a hub or a ‘UK Silicon Valley’ for the Googles and Facebooks of the future. Cameron unveiled his Blueprint for Technology today in East London with a commitment to push through … Read moreBlueprint for Technology demands an innovative tax blueprint