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...
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 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...
Oct 3, 2022 | HMRC, R&D, R&D Tax Credits
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 UK businesses – even during the most testing time of the pandemic. At EmpowerRD, the updated statistics are...
Aug 12, 2022 | HMRC, R&D, R&D Tax Credits
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 total value. This is a reasonable increase on the previous year’s estimate of 3.6%. SME R&D tax relief scheme has the...
