There have been two recent Software Development tribunal cases that resulted in two very different outcomes: one decided in favour of the software company (Get Onbord Limited) and the other in favour of HMRC (Tills Plus Limited). This provides a useful opportunity to compare the two cases to glean valuable
In the ever-evolving landscape of software development, R&D tax credits can be a crucial lifeline for innovative tech companies. However, navigating increasingly common HMRC enquiries into these claims can be challenging. A recent tribunal case, Get Onbord Limited (GOL) v HMRC, offers valuable insights for software development firms
Introduction: Fueling Innovation in the UK's Digital Economy In today's rapidly evolving digital landscape, software development is the cornerstone of innovation across multiple industries. From cybersecurity and fintech to artificial intelligence and quantum computing, software drives the UK's most exciting technological advancements. Recognising this
Recent HMRC Guidance in preparing R&D tax credit claims included some useful information on how companies should aim to document their R&D projects - perhaps AI holds the key...
In this video, we cover key changes announced in the Autumn Budget Statement 2023 with a particular focus on the R&D tax changes: * Merger of the SME relief into the RDEC relief for accounting periods commencing on or after 1 April 2024 * Example calculations for the merged relief
HMRC latest statistics for the UK R&D Tax Relief were released on 28 September 2023 relating to claims submitted in 2021-2022. Here we share a summary of the key points.
The introduction of the AIF is a crucial change in the R&D tax credits application process. Without this form, your claim will not be considered valid by HMRC.
HMRC is increasingly challenging R&D tax credit claims. Here we explore a recent successful defence of a sizeable claim on behalf of a UK Fintech company.
In the ever-evolving landscape of corporation tax, there's a new pitfall that companies need to be aware of: the marginal rate of 26.5%.
In this newsletter we cover: * ❌ UK individuals pay a record £16.7 bn in CGT (but missed planning opp...) * 🧐 SIC Code(s) - Check Yours if Claiming R&D Tax Credits * 🤓 Your Executive Assistant (for those who hate typing - like me 🙈) UK individuals pay a record £16.7
Newsletter
Weekly newsletter in which we cover changes to the R&D tax credit claim submission process using the new Additional Information Form. Plus other updates
SEIS / EIS
The wait is over and the new SEIS limits announced to have effect from 6 April 2023 have now received Royal Assent and become law - great news for founders and investors!
Staff Perks
EMI changes have been introduced to eliminate some administrative burdens and clarify the process
SEIS / EIS
HMRC has released its latest statistics on the Enterprise Investment Scheme (EIS), Seed Enterprise Investment Scheme (SEIS), and Social Investment Tax Relief (SITR) government tax incentives
R&D Tax Credits
Here in this video we cover the R&D tax relief and its current status as HMRC ramps up formal enquiries and challenges.
SEIS / EIS
Here we cover some practical issues in dealing with the new rules under the Seed Enterprise Investment Scheme (SEIS) that should have effect from 6 April 2023 (but that don't become law until July 2023...)
R&D Tax Credits
We are currently witnessing a sea-change in HMRC's approach to reviewing and processing R&D tax credit claims, with software development companies in particular being subject to HMRC enquiry.
R&D Tax Credits
With so much change happening in the field of R&D tax credits relief, we have put together a useful summary timeline of changes and new rules that are currently on the horizon
Company Tax
This generous temporary capital allowance aimed at expenditure on computers, furniture, plant, machinery, vans etc is set to run out after 31 March 2023.
Strategy
Sage advice from seasoned VC, Michael Jackson: Here's Tom Loverro's thread (referenced above): Here's a link to the full thread: https://twitter.com/tomloverro/status/1620466827519496194
Personal Tax
The tax burden is about to get a lot worse for director / shareholders from 5 April 2023 onwards, so here we share some proactive tax planning ideas
Personal Tax
Don't be tempted to settle your personal tax self assessment bill due to HMRC from your own company's bank account.