ABGI news from across the UK and the world

HMRC Research and Development Communication Forum

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

Becoming a dad can shrink a man’s brain

A new study suggests that becoming a parent changes the structure of a person’s brain. But don’t panic – it’s not necessarily a bad thing!

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...

Accelerating Innovation at COP27

Innovation in the field of climate action is crucial to support both behavioural and system changes necessary.

Electric taste-altering chopsticks

Japanese researchers develop a way of seasoning our food by tricking our senses.

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.