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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
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
With major changes on the horizon, 2023 marks a pivotal moment for the UK’s R&D tax relief scheme. Here’s our take on the year that
As anticipated, HMRC published their draft guidance on 20 December on the R&D tax credit changes affecting accounting periods beginning on or after 1 April
In November 2022, the Autumn Statement announced significant adjustments to UK R&D tax credit rates, which will come into effect on 1 April 2023. Because
According to HMRC’s most recent statistics, the number of startups claiming R&D tax credits was 78,825 in 2021, and the average tax credit claim size
While a compliant R&D tax credit claim should be the norm, recent years have seen an uptick in error and fraud. In response, HMRC has
In our feedback to the draft legislation published on 20 July 2022, we have identified the measures that we think will impede R&D activity and
On September 29 HMRC released the latest official R&D tax credit statistics 2022. They confirm that innovation continues to be key to the success of
With the introduction of the Additional Information Form (AIF), the narrative (also known as a “technical narrative”) has become even more important for an R&D
The latest HMRC annual report and accounts document for 2021/22 estimates that error and fraud in the R&D tax relief scheme is 4.9% of the
The government published draft legislation on the R&D Tax credit scheme on 20 July. The proposed legislation incorporates announcements made in 2021’s Autumn Budget, as
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