This month we wrote an R&D case study on a large company setting up operations in the UK. Here we explain what we did at the start, right through to the end and what the result was. Case Study – Background A large company setting up operations in the UK...
What Counts as R&D for Tax Credit Purposes? R&D Tax Credits are a valuable government incentive designed to reward businesses for investing in developing new products and processes. However, one of the most common questions businesses ask is: What exactly...
There have been significant changes to contractor and EPW payments within the R&D Tax Credit scheme. We have summarised these changes below. Foreign Contract Payments Effective for accounting periods commencing after 1st April 2024. Companies will no longer be...
In the past 2 weeks, we have unfortunately had to inform 2 companies that they are not eligible to file an R&D Tax Credit claim for their accounting period ending 31st March 2024. This is on the basis that they were considered first-time filers. They did not file...
The Chancellor announced in the UK autumn budget, that the R&D Tax Relief rates will remain the same. After roughly two years of many R&D relief rate changes, along with a new merged scheme. A new scheme for high-intensity R&D SMEs, and changes to eligible...
According to HMRC, the following is a summary of R&D Tax Credit filing statistics for 2022-2023. The provisional estimated amount of total R&D Tax relief support claimed for the tax year 2022 to 2023 was £7.5 billion. An increase of 1% from the previous year....
