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...
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...
Jan 18, 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: Recapping the changes announced in the Autumn Budget 2022. The increase in compliance-related activity from HRMC. New...
Jan 17, 2023 | HMRC, R&D Tax Credits
On 22 July 2022, HMRC launched a public consultation entitled ‘Raising standards in tax advice: protecting customers claiming tax repayments’ to guarantee that all taxpayers who meet tax repayment or relief requirements get the necessary information they...
