Richard Turner (FTI Consulting) reviews two important developments in UK R&D tax incentives.
This article primarily covers two important developments in UK R&D tax incentives.
The first was the announcement in the 2018 Budget and subsequent consultation on the proposed cap on payable tax credits under the SME regime. This measure has been proposed in order to counter increasing levels of abuse where vehicles are being established in the UK simply to access tax credits and there are little or no accompanying UK activities.
The second is the launch of HMRC’s R&D digital form aimed at improving the quality of information to be submitted alongside claims.
Did you know?
To put this into context it is worth mentioning some interesting facts and figures. HMRC released its annual R&D incentive statistics in September 2018. These have recently been augmented with additional tables and analysis.
In 2016/17...
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Richard Turner (FTI Consulting) reviews two important developments in UK R&D tax incentives.
This article primarily covers two important developments in UK R&D tax incentives.
The first was the announcement in the 2018 Budget and subsequent consultation on the proposed cap on payable tax credits under the SME regime. This measure has been proposed in order to counter increasing levels of abuse where vehicles are being established in the UK simply to access tax credits and there are little or no accompanying UK activities.
The second is the launch of HMRC’s R&D digital form aimed at improving the quality of information to be submitted alongside claims.
Did you know?
To put this into context it is worth mentioning some interesting facts and figures. HMRC released its annual R&D incentive statistics in September 2018. These have recently been augmented with additional tables and analysis.
In 2016/17...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
