Posts Posts by: "Maria Kitt"

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)

As we postpone Brexit yet further and are thrown into more political uncertainty, good tax planning can provide some consistency and certainty. Maria Kitt focuses on topical Corporation tax planning [November 2019 ] Move to 17% Around two million trading companies in the UK will be familiar with paying corporation tax at 19% on any…(Read More)

RDEC Claims

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HMRC have been attempting to ‘simplify’ the potentially complex RDEC calculations for large companies and SME’s subcontracting RD activity – a welcome and helpful move. the guidance can be read here, please do not hesitate to contact your usual partner for further help…. https://www.gov.uk/guidance/corporation-tax-research-and-development-tax-relief…(Read More)

More on Brexit anyone? Interestingly there has been no more from the UK government since the publication last March promising continuity across tax and grant funding initiatives. Conspicuous by its absence, special measures for UK Science & Technology companies would be welcome; not least potential labour flow easements across European borders should the need arise.…(Read More)

Winter Blog

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Maria Kitt attended the opening UKSPA conference of 2019, on behalf of Tax Insight held at Imperial College, London. ‘UK science and technology is in a very strong place to build and grow the ‘knowledge economy’ of 2020 and beyond. We heard fascinating talks from scientists across the UK and several ‘success stories’ from individual…(Read More)

From Maria Kitt Whilst the Budget announcements provided some encouragement to the SME economy, sadly the RD sector received a shock announcement throwing us back to the pre 2007 gloom where tax credits are pegged to a tax ‘cover’ of PAYE / NIC contributions. The excuse is that HMRC have discovered fraudulent claims and are…(Read More)