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The new cap on the SME R&D tax credit scheme

Posted on Monday 7 December 2020 by Stephanie Taylor | Senior Tax Manager

Further to our blog outlining the impacts of the Finance Bill 2021 we have received an update to the guidance on the new SME cap from HMRC.
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Finance Bill 2021 – impact on R&D tax credits

Posted on Friday 13 November 2020 by Stephanie Taylor | Senior Tax Manager

HMRC have recently announced changes to the rules for R&D tax credits for SMEs. The new rules have been designed to target perceived fraudulent claims using structures set up in the UK to claim a repayable credit even though no R&D work was actually carried out in the UK.
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HMRC report failings in R&D tax credit claims

Posted on Wednesday 28 October 2020 by Stephanie Taylor | Senior Tax Manager

HMRC recently reported on the outcome of a first-tier tax tribunal case investigation into an R&D tax claim, in the case of Hadee Engineering Co Ltd (Hadee). Hadee made R&D claims for the periods ending 30 April 2009 and 30 April 2010. HMRC challenged the claims asking if the expenditure was incurred in the relevant periods, whether the projects qualified as R&D under the BIS guidelines and whether the expenditure was incurred as part of a contract and whether the expenditure had been subsidised.
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