Posts Posts by: "Maria Kitt"

In the most extreme public financing environment since the 1930’s recessions, Rishi Sunak delivered a growth focused Budget yesterday with immediate and longer term support to a range of sectors and businesses. For innovative companies, the intended move to a 25% corporation tax regime from FY [01 April] 2023 sets us back to the…(Read More)

The rules on R & D tax relief for subcontractor costs will change from 01 April 2021. Disappointingly, the PAYE cap abolished in the 2015 Finance Act will reappear, restricting RD tax credit payments for small companies to the amount of PAYE contributions paid over to HMRC in the same accounting period. Important exemptions are…(Read More)

February 2021 Update

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‘UK R & D tax relief cannot be granted unless there is clear evidence of a scientific or technological ‘advance’ in capability or competence. Sometimes this can be the full scale invention of a new product, process or system; sometimes it may be the slightest gradation of an improvement. Whatever the degree, the advance must…(Read More)

World events continue to challenge us all across every border, industry and society and we do wish hope and health to all. The UK Government has consolidated its Digital Services Tax code during 2020 and this was enacted earlier this year providing a basis for large digital marketing companies to contribute to the UK exchequer…(Read More)

The below assistance is or will shortly be available to businesses affected by the current circumstances. Very sadly we have seen scam email and phone traffic today offering ‘help’ in securing additional RD funding. This is bogus and NOT the case, the Gov support is only that listed below, and the usual RD breaks apply…(Read More)

In these very difficult times, we hope that our clients and contacts are safe and well. UK companies should be aware of the following assistance: The RD and creative sector reliefs and RD cash back schemes continue to operate unchanged. There is full commitment by the government to ensure timescales are maintained. Companies should continue…(Read More)

Prosperity Budget: Despite veering off the corporate tax road map (PM Johnson resisting the down trend of UK corporate tax rates to 17%), there were a number of positives in the 2020 Budget Speech, made in difficult times. Larger companies continue to enjoy uplifted RDEC breaks and the proposed ‘cap’ for SME companies has been…(Read More)