When the Research and Development tax credit programme was first made available to taxpayers, companies were unable to claim a payable cash credit if they had not paid any PAYE and NIC. In other words, if a company did not have any salaried employees and were...

The R&D tax relief scheme has now been in existence since 2000. The programme was initially designed to incentivise Small and Medium Enterprises (SME’s) and in 2002 was expanded to large enterprises. As of April 1st, 2016, the programme replaced the “large scheme”...

What factors are at play when you file for your R&D claims with HMRC? Learn how to effectively leverage your cash flow with R&D tax credits. Our senior consultants at RDP are here to help you maximise your claims effectively. They will: Ensure all R&D tax...

In the year 2000, the Government introduced Research and Development (R&D) tax credits. Since then the programme has gained popularity as the number of claimants have increased year over year. The primary reason for its popularity is that more companies realise...

In a perfect world, all R&D staff, or those working on an R&D project, would keep time reports that detail all their R&D activities. However, we are often asked, “how would I allocate our employees’ time if we did not keep time reports?” The overriding...

As Brexit continues to leave a lasting mark of instability, businesses are caught wondering how things will shake out going forward. The UK heavily relies on trade with the rest of Europe. At the heart of trade lies innovation and introduction of new products and...

There are nearly 50,000 businesses in the UK that claim R&D tax credits annually. But there are still many businesses that don’t know about the programme, or know about it, but do not think they qualify for it. Here are some tips on preparing an R&D tax credit...

You don’t know what you don’t know With the continuous increase in the number of companies that do R&D tax claims, there are still many businesses that don’t effectively leverage their tax credit.An example of this is a multi-site restaurant in the UK that...

With many uncertainties surrounding the effects of Brexit on the UK economy and its trade with the rest of the world, many are wondering what the government’s fiscal policies will be in the post-Brexit landscape. This includes its impact on R&D tax relief and...

When it comes to capturing costs against a qualifying R&D project, there are many misconceptions about the types of costs that can be included. After all, if a cost is necessary in carrying out the R&D it must surely qualify for the relief, right?...

RDP recently attended an HMRC Agent briefing, which gave some useful insights into the current state of play on the R&D tax credit programme and on certain areas of concern.Briefly, taxpayers are now more aware of this government-sponsored programme as there has...

R&D tax relief is expanding rapidly with the number of claims made by companies increasing 20% year on year. In recent years, it has been very common for director shareholders to remunerate themselves with a low salary to maintain their National Insurance record...

The following piece was originally published in BQLive Magazine Whether it's the first time or the fifth time your company has submitted an R&D tax credit claim, rather than receiving your cheque from HMRC, you might get a wordy letter.It goes something like this:...

The following piece was originally published in UMi Over the last several years in the UK, the research and development (R&D) tax credit programme has gained popularity and the number of claim submissions continues to increase year on year. The programme is...

So, you’ve filed a claim for R&D Tax Relief and patiently waited for HMRC to issue your tax credit refunds. Then you receive a response from HMRC with the following: “The BIS Guidelines refer to an advance in science or technology as an advance in overall...

Over thirty years ago I left EY with the goal of starting up my own accounting firm. By far the best way I found new clients was by offering R&D tax credit services. I found assisting clients with R&D tax credit claims to be a value-added service. As a...

Too Early To Call It would be too early to claim that London’s banking giants have become a shadow of their former selves simply because FinTechs in UK are taking this well-entrenched industry by a disruptive storm. FinTechs have been leveraging powerful multi-mode...

Whether you are new to R&D tax credits or have been claiming regularly, the R&D Tax Relief programme is not always straightforward to figure out and the rules can be confusing to taxpayers. We frequently receive questions from companies, both those new to the...

When it comes to selecting an R&D tax credit provider, the task is usually assigned to a company’s CFO, or in smaller organizations, the owner. The selection process is typically based on receiving recommendations from a trusted advisor, business associate or,...

Research and Development (R&D) tax credit relief by the Government of the United Kingdom is becoming increasingly popular among UK businesses as more companies explore its benefits. However, there are many businesses that, due to a lack of expertise in R&D tax...

…If There is No Expert Advice Involved For those businesses that have been trading since 2000 and fortunate enough to take advantage of RDEC accounting treatment for the last 17 years, their R&D activities have resulted in greater investment in the innovation...

Her Majesty Revenue and Customs (HMRC) is responsible for administering and processing R&D tax credit claims through the corporation tax system. R&D tax credits have increased significantly over the last several years, and today UK businesses can reduce or...