Mar 16, 2023 | EmpowerRD News, HMRC, R&D, R&D Tax Credits
An update from our Chief Client Officer, Max Glennon, on the latest changes affecting the UK’s R&D tax credit scheme. This month: Max looks at the Spring Budget on 15 March, addressing two key takeaways that directly affect the R&D tax relief: 1. The...
Mar 15, 2023 | HMRC, R&D Tax Credits
Chancellor Jeremy Hunt’s Spring Budget 2023 supports the government’s economic plan to halve inflation, reduce debt and grow the economy. Highlighting the government’s commitment to economic growth, the Chancellor reasserted the government’s ambition for...
Feb 17, 2023 | HMRC, R&D Tax Credits
In January HMRC issued another 2,000 nudge letters as they continue to crack down on fraudulent R&D tax claims. Why is HMRC sending out nudge letters? HMRC has seen an increase in fraudulent claims, and they believe that third-party agents have been deliberately...
Feb 16, 2023 | EmpowerRD News, HMRC, R&D, R&D Tax Credits
An update from our Head of Tax, Jon Yeomans, on the latest changes affecting the UK’s R&D tax credit scheme. This month, topics include: Jon predicts the R&D tax credit scheme will undergo more fundamental changes in the next 18 months than the rest of...
Feb 7, 2023 | Government Funding, HMRC, R&D
Last year, a House of Lords subcommittee initiated an inquiry into the proposed R&D tax credit scheme reforms. After reviewing responses, they released their final report on 31 January. The report echoes the government’s fears of fraud and abuse, but says...
Jan 20, 2023 | HMRC, R&D Tax Credits
In response to the announcement of a simplified, single RDEC-like R&D tax credit scheme in the Autumn Statements, HMRC has initiated an 8-week consultation. On 13 January 2023, HMRC opened the 8-week consultation period, which will conclude on 13 March. This...
