One of the greatest hurdles when people consider whether to file R&D Tax Credits is figuring out whether they qualify. Unfortunately, this is yet another area where it is difficult to give a clear answer. Why giving a clear answer is difficult In extreme cases, it’s easy to give a clear answer. Developing a cure
If you have made an error in your R&D Tax Credit claim, you could face an HMRC enquiry. But what is an HMRC enquiry? And how do you resolve them? Recently, a potential client asked us what an “HMRC Enquiry” means in the context of an R&D Tax Credit claim. Getting audited by HMRC sounds
SEIS is a very exciting scheme, and, I believe, very likely to result in a significant increase of investment in new small businesses over the next couple of years. Most wealthy people spend a lot of time looking for ways to reduce their tax (Her Majesty does tax income pretty aggressively wherever She can find
Some software companies capitalise their R&D, on their accountant’s advice. What this ends up doing is spreading the expense over several years and making the balance sheet look better. Whether software is really worth anything beyond the sales which it generates (or fails to generate) is a discussion for another day, but it’s important for
Investors, like everyone else, don’t like taking unnecessary risks. When it comes to SEIS, one of the ways to decrease the risk for your investors is to file an SEIS Advance Assurance Form. This provides a semi-binding declaration that the company will qualify for SEIS relief. There are a couple of caveats worth noting, though.