The Coalition for a Digital Economy (COADEC) recently reported on their research into the UK’s Research and Development Tax relief system with a focus on start-ups. Their summary presents seven recommendations to improve our current procedures, which we are focusing on here. Background Our last blog article contains information about COADEC’s research, including: international comparisons [...]

New research from the Coalition for a Digital Economy (COADEC) highlights several ways our R&D tax relief system could be improved. Updating definitions of what constitutes R&D and simplifying the administrative burden are two of their key findings. But will the government listen when they present to digital minister, Margot James? Are changes to R&D [...]

When you submit your R&D tax relief claim, you need to show that your project falls within HMRC’s definition of R&D. This applies to applications to both the R&D Tax Credit scheme and the RDEC scheme. It can be a bit daunting to decipher what this means, so we’ve broken it down into a few [...]

This example is taken from the Department for Business, Innovation and Skills Department’s ‘Guidelines on the Meaning of Research and Development for Tax Purposes’. We’ve broken it down into a bit more detail and used everyday English throughout. It is based on a fictional company’s project but all the R&D tax relief references are completely [...]

Are you one of the 90% of businesses owners that are not claiming the R&D tax relief you are entitled to? Perhaps you’ve heard talk about identifying your ‘scientific or technological uncertainty’ or finding your ‘qualifying costs’. And the unfamiliar terms have just put you off from the start. This is totally understandable. None of [...]

You already know that you need to define your R&D activity, have a ‘technical expert’ opinion and be able to evidence your qualifying costs. But are you also aware that how you submit your R&D claim affects the smoothness of the process? You have two options for submitting your R&D Tax Credit claim: Include it [...]

Is it really worth the effort to make an R&D Tax Credit claim if my company is making a loss? We get asked this question so many times that we decided to put our answer on paper. The basic answer is, yes, you still get a high value R&D tax credit claim if your company [...]

As of 1st April 2019, a new HMRC R&D Tax Credit rule came into force. Your R&D Tax Credit claim must now be submitted with an accurately completed CT600 and full Corporation Tax computations. Why has HMRC implemented this new R&D Tax Credit rule? Recently, HMRC are increasingly industrious in their attempts to clarify the [...]

In the 2018-19 financial year, UK businesses collectively paid £196 billion in tax to the Treasury. This is 27% of the total tax revenue for the year and underlines the importance of businesses’ contribution to the national economy. The whole country benefits from this £8billion rise in business tax contributions compared to the previous tax [...]

This is an amazing revelation from cancer research scientists in Cambridge. They have developed virtual reality (VR) technology that enables them to have a 3D view of a tumour. This can be examined and shared in astonishing detail. As reported by the BBC, Cancer Research UK’s chief scientist Professor Karen Vousden said: "Understanding how cancer [...]