News & Views
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Banging the drum - time is running out for March year-end R&D claimants!
Most corporation tax reliefs and claims have a two year time limit to make a claim, but recent R&D tax relief reforms give some companies a lot less time to make a claim. With March year-ends being extremely common, 30 September is an important deadline for many companies. Don't miss out!
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Deadline Alert: R&D Pre Notification for March Year Ends
If your company has a March 2025 year-end, time is ticking. HMRC requires certain businesses to pre-notify their intention to make an R&D claim. If you miss the deadline, your claim is automatically invalid.
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Big Tax Relief for dealing with asbestos or other hazards
Whether you’re a developer or company investing in your property, there is tax relief available for dealing with hazardous land or buildings.
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Is HMRC’s Enquiry into your Tax Return Valid?
In recent years, HMRC has ramped up its compliance efforts in a bid to close the UK’s widening tax gap, which is currently estimated at over £30 billion annually. As part of this drive, taxpayers and advisers are seeing a surge in enquiries into submitted returns. The Spending Review 2025 allocated £1.7 billion over four years to fund the recruitment of 5,500 compliance officers and 2,400 debt management staff, alongside £500 million earmarked for digital transformation to help close the tax gap by an additional £7.5 billion annually by 2029/30. In simple terms, this means a marked increase in HMRC enquiries.
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Special Weapon Activated – Video Games Developer Funding Health Levels Replenished by UK Tax Reliefs
Video game developers in the United Kingdom can now level up on their tax relief as the Video Game Expenditure Credit (VGEC) scheme introduced in 2024 starts to ramp up.
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Power Struggle - Understanding HMRC's Schedule 36 Rights
HMRC holds significant authority to ensure compliance with UK tax law, but how far are they reasonably allowed to go? John Moxon explains in more detail.
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Congratulations!
We are delighted to announce that our Senior Tax Consultant, James Smith, has been named as one of the “Top 30 Under 30”!
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R&D Tax Claims - Understanding HMRC and Careless Penalties
When it comes to submitting claims for R&D tax relief, accuracy matters. HM Revenue & Customs (HMRC) has the power to impose financial penalties when R&D claims contain inaccuracies that lead to an underpayment of tax. Among the most commonly encountered penalties we see being levied by HMRC are those for careless errors: mistakes made through a failure to take reasonable care.