Expert commentary and practical guidance from ICAEW on reliefs related to research and development within the UK business tax regime
This month’s top technical stories include an HMRC investigation on suspected R&D tax relief fraud; summaries of the various tax measures announced in the Draft Finance Bill 2022-2023 and support on the extension of trust registrations.
Changes confirmed and announced on 20 July include those to the R&D tax relief rules.
ICAEW reported that payment of some R&D tax credits have been stopped while HMRC investigated some concerning claims. HMRC has now provided further details relating to this campaign.
This month’s top technical stories include a decrease in the UK’s estimated tax gap, delay to implementation of the global minimum tax rate and HMRC clarification on R&D tax credit compliance checks.
HMRC confirms that additional checks are being applied to repayment cases in date order including when advance assurance has been given.
Tax credit claimants advised to expect longer processing times.
Corporate Tax Manager Randeep Dhaliwal discusses a case and HMRC’s R&D manual update in relation to tax relief claims for client-subsidised expenditure.
This month’s top technical stories include some R&D tax credits suspended by HMRC, why IR35 is fundamentally problematic and the tax and NIC treatment for displaced Ukraine employees relocating to the UK.
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Practical guidance on tax reliefs related to research and development within the UK business tax regime.
A chapter on corporate tax reliefs for intellectual property, highlighting tax planning opportunities and potential pitfalls.
A chapter on capital allowances for expenditure on research and development, patents and know-how.
Guide explaining the practical and technical aspects of capital allowances and the related tax reliefs on property.
An up-to-date guide to claiming UK R&D tax reliefs effectively, providing complete, easy to follow guidance.
A chapter on claiming research and development tax relief for UK SMEs, providing easy to follow guidance.
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Comment submitted on 29 June 2022 to a paper published by HM Treasury on 9 May 2022.
A response dated 8 February 2022 to a consultation published by the government in November 2021.
A response dated 11 June 2021 to a consultation published by HMRC on 23 March 2021.
A response dated 2 June 2021 to a consultation published by HMRC on 3 March 2021.
Some resources that we link to may pre-date the latest amendments to the relevant tax regulations. While these links contain useful information, please treat them with appropriate caution.
HMRC internal manual providing R&D rate tables, guidance and information on the treatment of R&D expenditure under SSAP 13, FRS 102, IAS 38 and FRS 105.
HMRC guidance on the different types of Corporation Tax relief available for companies that work on R&D, including specific guidance for small or medium-sized enterprises and information on claiming Research and Development Expenditure Credit .
Guide to R&D tax credits and incentives by country, including a comparison of patent box regimes across fifteen countries and general R&D incentives across 36 countries.
Research report produced by HMRC examining the take-up and use of Research and Development tax credits, and assessing their impact on R&D investment in the UK.
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