Government support for innovative SMEs
Rishi Sunak as Chancellor has announced a suite of new incentives for UK businesses to support innovative businesses at this difficult time. Chancellor announces new £1.25 billion coronavirus package to protect firms driving innovation in UK package includes a £500 million investment fund for high-growth companies impacted by the crisis, made up of funding from […]
Coronavirus (COVID-19) Business Interruption Loan Scheme Guidance
Further to our Government Support guide the British Business Bank have now issued their guidance as to eligibility criteria for businesses wishing to access the Coronavirus Business Interruption Loan Scheme (CBILS) as follows: The British Business Bank qualifying criteria for the loan scheme mean businesses must: • Be UK based, with turnover of no more […]
R&D tax credits: Claims to be limited from April 2020
Why HMRC elected to bring back PAYE/NIC cap for R&D tax credits and what does this mean for your claim? As things stand, R&D tax credits are available to loss making companies with relevant qualifying expenditure at a rate of 14.5%. This means that small and medium sized businesses making a taxable loss are currently […]
Our tax change predictions for 2020
Usually, by this time of year we’d have a fairly clear picture of the tax changes set to take effect in April. But 2019 has been unusual in many ways, and as the Budget originally planned in November was cancelled to make way for the general election, there’s been no major fiscal announcement this year. […]
Delays to R&D tax credit claims
Businesses have been experiencing “significant delays” to their research and development (R&D) tax credit claims in recent months. R&D relief is available to companies that work on innovative projects in science and technology, with the aim of making an advance in their field. For more information please see our dedicated R&D page here. HMRC aims […]
