ABGI news from across the UK and the world
Chancellor responds to reports of abuse & fraud in R&D tax relief by cutting the SME scheme deduction rate to 86% and the credit rate to 10% but increases the rate of the RDEC credit from 13% to 20%. All innovative SMEs suffer because of the actions of a few...
HMRC recently confirmed that, from April 23rd, 2022 companies considering applying for R&D tax relief will need to give advanced notification of their intention to claim within six months of the period-end for which they are planning to submit a claim.
HMRC received over 350 formal complaints, between April 2021 and March 2022, which explicitly referred to assignments, a figure which has been increasing annually.
Capitalisation of R&D – Can I receive tax relief on capitalised R&D expenditure? And is it in my interest to do so?
Capitalised costs and how they related to R&D tax relief can be confusing to both companies and their accountants. As a business owner, you may be wondering if you can receive tax relief on capitalised R&D expenditure.