Help & Advice
Navigating cashflow issues during COVID-19 – could R&D tax relief be a solution?
November 5th, 2020Engineering businesses constantly strive to stay one step ahead of the competition, no matter what other external economic factors may be at play. At a time such as this though, where cashflow and financial pressures are being felt more acutely than ever, have you considered that your business’s attempts to innovate may also be an […]
READ MORE »R&D Tax Relief: Connected Vs unconnected subcontractors
October 26th, 2020Written by David Herd, senior tax advisory consultant at Champion Accountants In a previous article, we discussed the difference between hiring an employee or a sub-contractor. You can find that article from July 24th here. Today, I’d like to look at connected versus unconnected sub-contractors, from an R&D Tax Relief perspective. Research and development (R&D) […]
READ MORE »Employed vs self-employed: what to consider when claiming R&D tax relief
July 24th, 2020We have this conversation with all our R&D (research and development) clients: the difference in the rate of tax relief between PAYE employees and sub-contractors. Many reasons determine whether an individual is employed or self-employed; far too many to list within a short piece. When the business has driven the situation – perhaps due to […]
READ MORE »CBILS and SME R&D Tax Relief
July 3rd, 2020With the Coronavirus causing cash flow issues for many, businesses have been increasingly looking towards the Government’s CBILS (Coronavirus Business Interruption Lending Scheme) initiative. What many haven’t realised is that the receipt of CBILS counts as notified state aid. When assessing whether a business is eligible to claim SME R&D Tax Relief, it first must […]
READ MORE »Champion Accountants reaches £34m R&D Tax Relief milestone
April 29th, 2020A leading accountancy group is encouraging businesses to pursue Research & Development (R&D) during the COVID-19 outbreak, as it celebrates securing £34m in R&D Tax Relief claims for its clients. The Government’s R&D Tax Relief scheme is still hugely underutilised, but successful claims continue to be paid amidst the Coronavirus outbreak. As such, we at […]
READ MORE »At a time when cash flow is critical, have you considered R&D?
April 22nd, 2020The most common misconception about Research and Development (R&D) Tax Relief is that it’s only available to lab coat companies and software houses, but this couldn’t be further from the truth. R&D Tax Relief is available to all limited companies that seek to achieve an advance in science or technology in their industry. Things such […]
READ MORE »Covid-19 update: CBILS, R&D tax relief and more
March 25th, 2020Coronavirus Business Interruption Loan Scheme (CBILS) The CBILS is now available, with some 40 participating lenders through which funding can be sought. The advice being given by the British Business Bank is to apply to your usual lender first, as any decision-making on whether you are eligible is fully delegated to CBILS lenders. CBILS supports […]
READ MORE »R&D myth busting – what is eligible?
June 26th, 2019Businesses are missing out on substantial tax savings because they’re unaware of what counts towards a Research and Development (R&D) tax relief claim. Many still wrongly believe that R&D only applies to scientific industries, when in reality, eligible activities can, and do, span a variety of sectors. Government research looking at R&D claims by industry […]
READ MORE »Making the most of staff costs in your R&D claim
May 28th, 2019Introduced by the Government in 2000 as an incentive to promote innovation, Research and Development (R&D) tax credits provide tax relief for eligible activities carried out by UK businesses. Tax relief is calculated based on the company’s spend on R&D, providing relief of up to 230% on qualifying activities. You can claim under the SME […]
READ MORE »Research & Development (R&D) Tax Relief… What counts?
May 24th, 2019We know that Research & Development (R&D) Tax Relief isn’t simple. Time after time, many of the businesses that we talk to about R&D relief have the same misconceptions about what they can claim for, such as: We pay a lot of rent on our premises… that will form a huge part of our R&D claim. As […]
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