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Research and Development

Many business owners are unaware of the potential benefits of R&D tax credits the may apply to their business. R&D tax credits enable companies that incur costs in the development of new products, processes or services, to receive a cash payment or tax deduction.

From 1 April 2015, the R&D tax claim enhancement is 230% of the qualifying R&D expenditure incurred – this means that if your business incurs expenditure of £1,000 on qualifying R&D, a deduction of £2,300 can be made when calculating the taxable profit for corporation tax purposes.

Our specialist team can provide advice on research and development, working closely with you to ensure that all qualifying expenditure is identified and recorded correctly. We will prepare the necessary reports for the required submissions to HM Revenue & Customs and liaise with them where necessary regarding the claim.

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News

10 August 2018

eNews – August 2018

In this month’s eNews we report on Making Tax Digital for VAT and the Bank of England interest rate rise. Meanwhile the Scotland Parliament introduces a tax relief for first-time ... Read more

10 July 2018

eNews – July 2018

In this month’s Enews we report on the Supreme Court’s ruling on workers’ rights and the latest guidance from HMRC for employers. We also consider the latest tax gap figures ... Read more

14 March 2018

Spring Statement 2018

The 25 minutes of Mr Hammond’s first Spring Statement came as a welcome relief after 2017 – a year that that contained two Budgets and three Finance Bills.  The Spring ... Read more