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

Fancy an extra 5% on your R&D tax relief?

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?

R&D tax credits: Key changes from March 2015 Budget Statement

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

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

North West SMEs claim an average £32,000 R&D tax relief

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

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?

Budget 2011 supports digital, technology and creative businesses (mostly!)

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!)

R&D tax credits get thumbs up in Tory Technology Manifesto

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