News & Views
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The R&D tax case we’ve been waiting for? HMRC loses at the First Tier Tribunal
Many readers will be aware of the turbulence within the R&D tax relief sector in recent years. HMRC’s hard-line stance during compliance checks has left many claimant companies bewildered that their claims have been rejected, with decisions often based on flimsy, ill-conceived justifications.
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A new dawn for UK tax incentives?
Following the (relatively unsurprising) result of yesterday’s election, a Labour government will announce its first budget in over 14 years later this year. It is no secret that the Government will need to address the UK’s fiscal deficit, but where the money will come from is open to speculation at the current time.
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Cavendish Cancer Care's Young People's Service
Cavendish Cancer Care are a local charity based in Sheffield which support people with the effects that cancer has on their mental health and emotional wellbeing.
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A shout out to Cal Byers, Head of Capital Allowances, YesTax
Cal Byers joined YesTax in July 2021 and we’ve never looked back. He delivers clear, professional Capital Allowances tax advice through our nationwide accountancy network for the benefit of their end clients.
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Software R&D – Common Misconceptions
It is no secret that the R&D industry has seen a monumental shake-up over the past 2 years, with HMRC opening compliance checks into circa 20% of all R&D claims submitted, up from around 1% historically. In October 2023, HMRC published its Guidance for Compliance (GfC3) to help claimants see if their work qualifies as Research and Development for tax purposes.
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A brief-ish history of time - the ups and downs of R&D and Patent Box tax relief so far...
With the UK general election around the corner, many businesses who prioritise investment in technology will be interested to follow the consequences of the election result on two extremely important tax reliefs – Research and Development and Patent Box.
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R&D tax relief: more change is coming for accounting periods beginning on or after 1 April 2024. Preparation is key.
The Spring Budget confirmed the changes to the Research and Development reliefs, which restricts the extent to which payments to contractors for R&D, and payments for externally provided workers (EPWs) can qualify for R&D relief, where the R&D activity takes place overseas.
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Commercial property transactions: there could be tax saving opportunities too
There’s a lot involved when you’re looking to purchase a commercial property. It’s certainly not just the price you offer to pay for the commercial property to consider, but the additional costs you incur on top too. For example, will there be any VAT due, and how much stamp duty is there to pay? Then, for the conveyancing work, there’s the legal costs too.