Category Archives: R&D Tax Credits

R&D tax relief claims are taking longer to process, leading to longer waiting times for companies expecting the tax relief. HMRC has been forced to take action to reduce fraudulent claims. Those processing the claims are asking for additional information to confirm the claims by small and medium-sized enterprises (SMEs) qualify for the tax credit.…

Claiming for an R&D Tax Credit can be a long and complicated process. However, planning ahead can make the whole process much easier. We’ve all been guilty of it, we rush into a new project trying to find new ways to complete a job, and it’s only once the job is complete that we think…

Urgent notice for Plymouth businesses! The deadline for applying for a Plymouth workplace travel grant is the 31st of January 2022. After events such as COP26, the UK’s priority is to move towards zero emissions across all sectors. To achieve that mission, there is help on offer for businesses looking to reduce their emissions. Besides…

A London company recently took HMRC to the tribunal regarding a denied R&D SME Scheme tax credit claim. Here is their success story. Having a Research and Development (R&D) tax credit claim denied can be frustrating. However, there is the option of taking HMRC to the tribunal if you feel they wrongly denied your claim.…

Choosing a suitable government R&D tax credit scheme can be a minefield. TS Partners is here to clear up the differences between SME and RDEC. The main difference between both schemes is the size of your company. The SME R&D tax credit scheme is for, as the name suggests, small and medium-sized enterprises. In comparison,…

Many companies and businesses believe that you can only claim tax credits for successful R&D projects. We’re here to tell you they’re wrong. Throughout history, scientists and inventors would agree that failure is an essential part of research and that without it, none of their great discoveries, inventions, or theories would have been achieved. HMRC…

A surprisingly high number of entrepreneurs in the food industry are unaware that they can claim R&D tax credit reliefs. Meaning they are missing out on millions of pounds in tax relief. The Food and Drink Sector is the largest manufacturing sector in the UK, contributing around 15% of GVA and worth over £73 billion.…

In last week’s Budget, the government confirmed its commitment to ensuring the UK remains a competitive place for cutting-edge research. Although the Chancellor didn’t uncover any extensive or immediate changes to R&D relief in his Budget speech, he did announce the previously announced SME cap will go ahead, and that the government will carry out…

The government has published draft legislation covering a change to the Research and Development (R&D) Tax Relief rules for small and medium-sized businesses (SMEs). In brief, HMRC has introduced a PAYE/NIC cap on the payable tax credit available for R&D claims – a cap to help prevent abuse of the SME scheme has been considered…

HMRC has released the latest statistics for the value of Research and Development Tax Credits covering 2018-19 so far, and with £5.3 billion claimed already, it highlights the biggest boost to innovative UK companies yet. To date, an impressive £33.3bn has been claimed in R&D tax relief overall, and there’s no sign of the continued…

The UK continues to drive innovation in the maritime and marine industry, with businesses frequently embarking on ambitious projects in order to create an advance and overcome various technical challenges in their work. This has only been amplified by Brexit, trade conflicts & Covid-19. Although creating many challenges, these uncertain times have also presented unique…

R&D in Software Development: The Complexities of Claims Uncovered As everyday processes become increasingly digitised, businesses continue to invest in software development and IT to evolve and streamline how they operate. This has without a doubt become a priority for many businesses when responding to COVID-19, as they’ve need to cleverly, and rapidly, adapt their…