ABGi news from across the UK and the world

Spring Budget R&D tax announcements – a partial reversal…

ABGI has summarised the key points on R&D tax credits from the Spring 2023 budget.

What are the Unified Patent Court (UPC) and Unitary Patent (UP)?

Details of the biggest change to European Patent Law since its inception in the 1970s (Unified Patent Court).

Scientific Advancement for R&D Tax Credits and Patentable Inventions: Do my projects have patentable subject matter?

Leading adviser urges HMRC to fully adopt R&D tax relief reforms proposed by House of Lords

ABGI’s response to House of Lords review

Leading adviser urges HMRC to fully adopt R&D tax relief reforms proposed by House of Lords

Another proposed change to the R&D regime – confusion rises amongst claimants!

The UK government has opened a consultation on whether to replace the current two-tier R&D tax claim regime with a new, single system applicable to all companies irrespective of size, proposed to commence from April 2024.

HMRC Research and Development Communication Forum

The HMRC R&D Communication Forum held its latest meeting last week, read the key points below.

Chancellor punishes all innovative SMEs because of the actions of a few

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...

Wooden, sustainable, and increasingly tall!

Constructions relying on Cross-Laminated Timber technology rival concrete and steel architectural solutions.

NEWSFLASH: Are You Prepared For Pre-Notification?

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.

R&D tax relief payment delays set to continue

HMRC have said there will be further delays with R&D claims due to fraudulent activity.

Are you in control of your tax refund?

HMRC received over 350 formal complaints, between April 2021 and March 2022, which explicitly referred to assignments, a figure which has been increasing annually.
Two Men Working Together On Device

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.