We are currently witnessing a sea-change in HMRC's approach to reviewing and processing R&D tax credit claims, with software development companies in particular being subject to HMRC enquiry.
With so much change happening in the field of R&D tax credits relief, we have put together a useful summary timeline of changes and new rules that are currently on the horizon
For many years, the default option for the majority of SMEs has been to claim the R&D tax credit rebate rather than wait for potentially higher relief - will the new 25% corporation tax rate make a difference?
Overview of current government tax reliefs available for ambitious growing UK company including S-EIS, R&D tax credits, Patent Box, EMI share options
HM Revenue & Customs has introduced a further form that all companies must now complete and file when claiming either the R&D tax credit relief
A new PAYE cap will be introduced in 2021 to limit payable SME R&D tax credits to £20,000 plus 300% of the company's total PAYE & NIC liability for the period
Every year, HM Revenue & Customs releases statistics that it maintains on the overall make-up of R&D tax credit claims by number and size of claims, regions and industries. Here we analyse the figures for 2018-19
On 10 September 2020, HMRC issued their view on how the R&D tax credit relief will be applied to furloughed employees under the Coronavirus Job Retention Scheme (CJRS)
Software development companies can benefit from the UK Government's R&D tax credit relief incentive but it is often unclear exactly what software activities qualify for R&D tax relief - we explain here
