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A top 10 of current tax issues

KPMG partner Dawn Elliott sets out the 10 vital areas for finance directors to consider across direct and indirect tax in the UK.

Although many people reading this article will confidently believe that their business does not conduct any research and development (R&D), I would challenge that belief.

Do you have technical staff? Do they develop ideas that your competitors would be interested in? If so, you may well be conducting R&D - most likely the 'D' element. Experience has shown that a very wide variety of companies, from banks to transport businesses, can submit successful R&D tax claims, despite their being convinced that they perform no R&D.