SMES

While 2024 has not exactly been plain sailing for SMEs, the tax related developments have not been as radical or fundamental as might have been feared, writes Andrew Constable (Mercer & Hole).

A detailed report by Lexis®+ UK Tax.

Carrie Rutland

James Rolfe

Carrie Rutland and James Rolfe (BDO) highlight practical issues concerning the introduction of the new scheme which takes effect from April.

R&D expenditure claim extinguished by going concern condition.

David Whiscombe

Disputes over partnerships, goodwill, distributions and VAT were among some of this year’s key points of interest for SMEs, writes David Whiscombe (BKL).

Justine Dignam

The latest R&D reforms were said to simplify the tax regime and encourage business investment. The reality though is more complexity, writes Justine Dignam (Markel Tax).

Ian Rowland Kenneth Nugent Lindsey Copland

HMRC is consulting on a single scheme for R&D tax relief to replace the existing SME and RDEC schemes. The timetable is an ambitious one and much needs to be considered, write Lindsey Copland, Ian Rowland and Kenneth Nugent (Grant Thornton).

Cristiana Bulbuc

Lee Ellis

The tribunal rejects HMRC's argument to refuse a claim for enhanced R&D relief on grounds that the expenditure was 'subsidised', as Cristiana Bulbuc and Lee Ellis (Stewarts) report.

Penny Simmons

The current consultation into the R&D tax credits system provides an opportunity for the government to initiate improvements to encourage investment, writes Penny Simmons (Pinsent Masons).

Bradley Mitchell

Research and development tax reliefs provide support to innovative companies and encourage R&D investment. Bradley Mitchell (Smith & Williamson) provides a back to basics guide.

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