UHY Ross Brooke Chartered Accountants
The government have issued draft legislation for consultation on the proposal to merge the two forms of corporation tax relief for expenditure on research and development (R&D) For expenditure incurred on or after 1 April 2024, it is proposed that the two schemes providing for R&D relief – R&D expenditure
R&D tax credit reliefs are intended to be aimed at those businesses in innovative industries extending knowledge or capability in a particular field of science or technology or creating an advanced process, material, device, product or service. However, over the years we have witnessed more and more unregulated firms entering
Currently HMRC is undertaking a consultation process regarding the potential options to simplify the UK’s R&D regime. By Mathew Browne, Senior Tax Manager Proposals are that the existing RDEC and the SME reliefs would be replaced, potentially with effect from 1 April 2024 (according to the Treasury). Going forwards only
The sellers of a local estate sold the family homestead and made a substantial gain. We were of the view that significant elements of the property qualified for main residence relief, the tax exemption afforded to a family’s only or main residence. By Phil Kinzett-Evans The site included several subsidiary
Innovate UK is offering up to £25 million in loans to micro, small and medium-sized enterprises (SMEs). Loans are for highly innovative late-stage research and development (R&D) projects with the best potential for the future. There should be a clear route to commercialisation and economic impact. Your project must lead
The value of R&D tax credits relief claimed by UK businesses has fallen for the first time since the scheme began in 2000, down by £275m in a year by Phil Kinzett-Evans Research by UHY Ross Brooke, a member firm of the accountancy group UHY Hacker Young, found that the
Innovate UK, part of UK Research and Innovation, has launched another round of Smart Grants funding for game-changing and commercially viable R&D innovation. Up to £25 million is available for disruptive research and development (R&D) innovations that can significantly impact the UK economy. All proposals must be business-focused, with deliverable,
Innovation has generally been recognised as essential for value creation, both for individual companies and for the UK economy as a whole. The development of new ideas, processes and technologies and their flow across different sectors is a significant driver of economic growth and productivity. Recently, innovation has also been
Innovate UK is offering up to £25 million in loans to micro, small and medium-sized enterprises (SMEs). Loans are for highly innovative late-stage research and development (R&D) projects with the best potential for the future. There should be a clear route to commercialisation and economic impact. Your project must lead
Innovate UK is offering small and micro businesses a share of up to £30 million in grants alongside tailored business support delivered by Innovate UK EDGE. You can apply for up to £50,000 for highly innovative ideas that have a clear route to commercialisation through business growth. Your project must