Research & development (R&D) claim preparation is a technically-demanding process and potentially distracting to a business when they are not set up to produce the correct analysis of expenditure or supporting records. Update Sept 23: Especially as we now know there are 2 key process changes to be aware of. The first is the requirement […]
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R&D for tax purposes comprises activities that use science or technology to overcome a clear and demonstrable limitation, or ‘uncertainty’, in a particular field. The end result could be new products, new systems, new devices, new processes and knowledge – or improving/building on what already exists. Examples of R&D R&D for tax purposes is purposefully […]
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Back in the autumn of 2022, Chancellor Jeremy Hunt announced his financial plans for the UK economy in 2023 and beyond. The proposed changes, set to come into force in 2023, seek not only to reduce the potential for error and fraud in Research & Development (R&D) claims but also to ensure the UK remains […]
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If you have undertaken work (either in-house or for a client) which involves you creating new products, new processes, new knowledge, new devices or new services (or developing existing ones) then you may be eligible to claim R&D tax credits. This generous government incentive provides support to all risk-taking companies who use science or technology […]
Continue readingThis month Tectona celebrates its 10th Anniversary. It has been an interesting (what an all-encompassing word that is!) journey with probably more downs than ups to be honest. Until the last 6 months, that is, where it seems the world has started smiling on us as the 10-year milestone came into sight. Running your own […]
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In late November 2021 I had a most enjoyable day lined up with 3 meetings in the diary. Not the usual Covid fare of Zoom/Teams/Wonder but real, face to face ones. And to complicate things they were in different locations. So the plan was this: Coffee with Mike in Stroud (Sophie dropped me off) Lift […]
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And this means that they are expecting some significant businesses to go bust owing lots of money. Many of us already use credit status reports from the likes of Experian, Creditsafe and Equifax. But these only tell you part of the picture as, in the corporate world, the data is scraped (in the UK at […]
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This week we tried a new platform – not Zoom this time but something called Wonder – go on, try it! The aim was to have a highly interactive session with the author of the book, FRUGAL INNOVATION, Jaideep Prabhu. Jaideep is Professor of Marketing at the Judge Business School at the University of Cambridge. […]
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If you are claiming (or have claimed) R&D tax relief, it’s important to understand the correspondence you might receive from HMRC and what to do next. Up to now, most applications for R&D relief result in money hitting your bank account, with little or no direct communication between you and HMRC. But times have changed. […]
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We have brigaded the numerous takeaways under 3 main headings: The Context Daniel wrote A WORLD WITHOUT WORK: People need to take the threat seriously People need to understand that their contribution to society will change In 1950, machines could perform 100,000 (or 10⁵) computations per second; in 2000 that figure was 1,000,000,000,000. And technology […]
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