HMRC issues reminder about new R&D tax relief rules
Despite new requirements for research and development (R&D) claims being in force for a month, almost half of claims made since then have omitted the necessary information. How can you avoid missing out?
-
Uber loses VAT margin scheme appeal
The Court of Appeal has ruled that Uber cannot use the Tour Operators Margin Scheme (TOMS) when accounting for VAT on its ride-hailing services. The decision could have significant implications for businesses that act as intermediaries when supplying services to consumers. What was the dispute about?
-
Investment bond - undercover tax trap?
Inheritance tax is a hot topic but most couples only need to be concerned if they are worth more than £1m. What you don’t hear about is the income tax charge on investment bonds that’s payable on death. Can you reduce the tax bill before it’s too late?
-
When are staff discounts tax efficient?
R&D tax relief allows companies to claim corporation tax relief for expenditure relating to qualifying projects. Since 8 August 2023, an additional information form has been required to be completed by claimants (or their authorised agent). HMRC says that almost half of the claims it has received since that date have been submitted without the form. The form includes key information, such as the details of the qualifying expenditure and project details. Without it, the claim will not be processed, which could be particularly inconvenient if you are waiting for a payable credit. HMRC states that if the form is submitted, a claim will be reinstated as long as it is within the time limit for the claim (usually the anniversary of the filing deadline for the return).
This website uses both its own and third-party cookies to analyze our services and navigation on our website in order to improve its contents (analytical purposes: measure visits and sources of web traffic). The legal basis is the consent of the user, except in the case of basic cookies, which are essential to navigate this website.