News & Views

  • Men Sentenced to a Total of 21 Years Imprisonment for R&D Tax Claim Fraud

    Three men involved in a fraudulent £29.5 million claim for R&D tax relief on a bogus IT project have been given custodial sentences totalling 21 years.

  • HMRC have extended the AIA to stimulate investment!

    To boost confidence and encourage investment through the economic impacts of Covid-19, the Annual Investment Allowance £1,000,000 temporary cap has been extended until 1 January 2022.The £1m cap was due to revert to only £200,000 on 1 January 2021, but the recent extension announcement by HM Treasury sets to provide key stimulus for investors into next year.

  • Accountants: The Deadline For 31st December 2018 R&D Tax Claim is Fast Approaching

    Everyone will be glad to see the back of 2020 but don’t wish the year away just yet! Many companies operate to a 31 December year end which means that any R&D tax relief claims for the 31 December 2018 accounting period need to be filed with HMRC by the end of the year.

  • Draft Legislation Published for Proposed PAYE/NI Cap on R&D Tax Credits

    Draft legislation for the long-proposed PAYE and NI cap on payable tax credits was issued on 12th November 2020. The new rules, which aim to prevent abuse of the R&D tax credit scheme will affect accounting periods starting on or after 1st April 2021.

  • First Tier Tribunal Case Involving R&D Tax Relief

    In October 2020, details of a First Tier Tribunal case involving an R&D tax relief claim were published (Hadee Engineering Ltd TC06272). Cases involving R&D tax relief are historically rare, but as we all know, 2020 has been no ordinary year.

  • Ministry of Marvelous Mail

    As many of our clients and referral partners know, we created YesTax with the goal of saving life changing amounts of tax for our clients and giving life changing amounts to those in need. We are proud to report that to date, we’ve managed to save over 25 million in tax for our clients, and we have donated £64,204 in a little over a year to support vulnerable children.

  • HMRC's latest Research and Development Tax Credits Statistics: September 2020

    R&D tax credits are a vital economic stimulus designed to encourage investment and spending in research and development activities, in order to promote the Country's economic growth, productivity gains, and competitiveness within the global marketplace.

  • Cash for Capital Allowances

    Capital allowances provide excellent cash generating opportunities and recent claims have been generating substantial cash repayments for YesTax clients.