Research and Development (R&D) tax credits have now been in existence for 20 years, delivering £33.3bn in tax relief through 300,000 claims made. In that time, the relief has become more accessible, and businesses can seek support from a wide range of advisors when making claims.
In the past 12 months, there has been much greater focus on the quality of claims made, and the main professional institutes, along with many in the advisor community have been increasingly vocal on how to embed this quality. Combine this with a number of fairly high profile tax cases putting a spotlight on inaccurate, and in some cases fraudulent claims, and many businesses, and their advisors are rightly concerned about how to ensure they have the right level of support in making an R&D claim.
Qualifying R&D can be present in a business of any shape or size, operating in almost any sector – it may be ‘there for all to see’ or it may be tucked away behind the scenes. For businesses, many discount the possibility of making a claim in saying ‘but this is just what we do’ (forgetting that what they do, may well be at the forefront of their particular technology). For their accountants, it is usually about knowing the right questions to ask, to help them to identify areas that may qualify for relief.
If 2020 has shown us anything positive, it is how innovative, resilient and adaptable businesses, their employees and their owners can be – and in such an environment, R&D tax incentives are a welcome support to encourage these businesses to continue do to exactly this.
This webinar will look to cover:
- An overview of the R&D landscape, including recent changes in legislation, consultations issued by HMRC, and recent tax changes.
- A practical look and 'what is R&D', how to spot it and how to make an R&D claim.
- Where to look for help, and what format that help might take.
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