Category Archives: Tax Insights

It’s that time again; not only is it a whole New Year, but it’s also time for the many millions of Britons required to complete a self-assessment tax return to do so by midnight on 31st January.  Of course, we realise here at TS Partners that some of you will have done the deed already.…

HMRC is warning self assessment taxpayers completing their returns to take care to avoid being caught out by scammers. As the department issues thousands of SMS messages and emails as part of its annual Self Assessment tax return push, customers have been told to be alert of the danger of scammers posing as the tax…

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…

Overcoming the Complexities of Capital Allowances and Commercial Property Capital Allowances (CA) are the hidden gem of UK corporation tax, providing a vital opportunity to offset some of the costs of a business. Although many tax advisors and accountants dealing with business tax are already accustomed to managing CA, the introduction of new and complex…

The new Conservative Government was expected to provide stimulus for UK businesses operating outside the EU post-Brexit and measures to support innovation were announced in Rishi Sunak’s first budget.   In summary, research and development expenditure (RDEC) rate has increased from 12% to 13% from 1 April 2020, public research and development (R&D) investment will be…

R&D Tax Credits are a government-backed incentive that have been around for about 20 years, offering lucrative cash rebates to companies overcoming challenges in their work. For many businesses under extreme cash flow stress during these uncertain times, an R&D claim that was previously overlooked (or they simply weren’t aware of) could be worth looking…

R&D Tax Credits for Food and Drink Manufacturers The food and beverage industry is worth hundreds of millions of pounds a year and is the largest manufacturing sector in the UK. There is substantial pressure on companies to offer food and drink that costs less, is healthier, longer-lasting and more ethically produced than ever before.…

What manufacturers should understand about R&D It’s often easier to identify innovation with a new product, so it’s no surprise that many manufacturing companies are carrying out work that qualifies for research and development (R&D) tax credits.  In fact, the manufacturing industry is one of the sectors making the highest number of claims overall. Businesses…

Architecture shapes the world we live in. From schools to libraries, our homes to our workplaces, every building we inhabit in one way or another influences our way of living. The UK is renown on the world stage for its pioneering architecture, with some the best international practices based here. Such architects have helped to…

Why choose R&D specialists over your accountant? Prospective clients ask us why, and it’s a good question. Accountants often tell businesses they can claim research and development (R&D) tax credits on their behalf at minimal cost. Some firms may even offer this service for free. Surely, you just have to fill out an extra couple…