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?
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
The UK R&D tax credit incentive scheme continues to get better and better (have I said this before!?!) From 1 April 2015, SMEs attract an uplift on their qualifying R&D expenditure of 230% (up from 225%). This means that in cash terms the tax credit is now worth 33.35%! So 1/3rd of your expenditure on staff … Read moreFancy an extra 5% on your R&D tax relief?
Here is a short summary of the key changes related to the UK R&D tax credit incentive as announced in the March 2015 Budget statement. Changes include: An increase in tbe SME rate of super-deduction from 225% to 230% from 1 April 2015 An increase in the Large company scheme “above the line” credit from 10% … Read moreR&D tax credits: Key changes from March 2015 Budget Statement
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
Latest HM Revenue & Customs figures reveal that a total of £52m tax relief was claimed in the North West under the UK R&D tax credit scheme in 2010-11. The £52m is spread over 985 claims giving an average claim of £53,000 (interestingly, this compares with an average claim of just £19,000 in London!), although … Read moreNorth West SMEs claim an average £32,000 R&D tax relief
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?
Yesterday’s Budget speech provided largely good news for entrepreneurs in the digital, technology and creative sectors. George Osborne had promised an “unashamedly” pro-business, pro-growth and pro-aspiration Budget and, although it might be over-flattering to suggest that he achieved this, he certainly made some positive inroads toward addressing some of the roadblocks facing early-stage startups and … Read moreBudget 2011 supports digital, technology and creative businesses (mostly!)
Hot on the heels of the Ingenious Britain report by James Dyson, the Conservatives have released a disappointingly limp Technology Manifesto. Although its key aims build on many of the promising ideas set out in the Tory commissioned Dyson report – in aiming to position the UK at the forefront of global technology and science … Read moreR&D tax credits get thumbs up in Tory Technology Manifesto