R&D Claims: More Info required from 1st August 23
Additional Information Form Required for R&D Claimants from 1st August 2023 On 1st April 2023, the R&D tax relief scheme experienced a number of significant reforms, including adjustments to R&D rates and expansion of qualifying expenditure. It was also confirmed that there would be changes to the way claims are filed in in an effort to […]
HMRC Issues 2,000+ ‘Nudge’ Letters to R&D Claimants
HMRC issues over 2000 Nudge Letters to R&D Claimants HMRC has recently written to over 2,000 companies as part of its ever-increasing compliance activity to crack down on fraudulent and inaccurate R&D tax relief claims. The ‘nudge’ letters encourage recipients to check that their previous R&D tax relief claims are complete and correct, and where inaccuracies are […]
2023 Changes to R&D Tax Relief: Explained
2023 Changes to R&D Tax Relief: Explained From 1st April 2023, a number of changes to R&D Tax Relief will come into effect. The changes which were announced in the Autumn Budget 2021 and Autumn Statement 2022, represent some of the most substantial updates to the scheme since its inception over 20 years ago and will affect many […]
Autumn Statement 2022 – Changes to R&D Tax Relief
Autumn Statement 2022 – Changes to R&D Tax Relief On 17th November the UK Government released its Autumn Statement 2022. At at a time of significant economic challenge for the UK, the government stated its priorities are stability, growth, public services and reducing national debt. These priorities have led to changes in R&D tax relief that will […]
2022 HMRC R&D Tax Credit Statistics
2022 HMRC R&D Tax Credit Statistics Released HM Revenue and Customs (HMRC) have recently released their latest R&D Tax Credits National Statistics Report, providing valuable information about Research and Development (R&D) Tax Credits, their cost, and the nature of the companies claiming them. The report, published each year, covers the accounting period up to the year […]
Changes announced for R&D tax reliefs from April 23
Significant changes announced for R&D tax reliefs from April 2023 On the 20th July 2022, the UK government published draft legislation for the forthcoming Finance Bill 22/23. Included in the draft legislation are significant changes to Research and Development (R&D) tax reliefs which aim to: Support modern research methods by extending qualifying expenditure to include […]
R&D Tax Credits and the SME PAYE & NIC Cap
R&D Tax Credits and the SME PAYE & NIC Cap Due to changes in government legislation, SME companies that are completing their R&D tax credit claim for 2021-2022 could be affected by the PAYE & NIC Cap. What is the HMRC PAYE Cap and why is it being introduced? The R&D Tax Credit scheme is a […]
