Research and Development (R&D) tax credits have now been in existence for 20 years, delivering £33.3bn in tax relief through 300,000 claims made. In that time, the relief has become more accessible, and businesses can seek support from a wide range of advisors when making claims.
In the past 12 months, there has been much greater focus on the quality of claims made, and the main professional institutes, along with many in the advisor community have been increasingly vocal on how to embed this quality. Combine this with a number of fairly high profile tax cases putting a spotlight on inaccurate, and in some cases fraudulent claims, and many businesses, and their advisors are rightly concerned about how to ensure they have the right level of support in making an R&D claim.
Qualifying R&D can be present in a business of any shape or size, operating in almost any sector – it may be ‘there for all to see’ or it may be tucked away behind the scenes. For businesses, many discount the possibility of making a claim in saying ‘but this is just what we do’ (forgetting that what they do, may well be at the forefront of their particular technology). For their accountants, it is usually about knowing the right questions to ask, to help them to identify areas that may qualify for relief.
If 2020 has shown us anything positive, it is how innovative, resilient and adaptable businesses, their employees and their owners can be – and in such an environment, R&D tax incentives are a welcome support to encourage these businesses to continue do to exactly this.
This webinar will look to cover:
An overview of the R&D landscape, including recent changes in legislation, consultations issued by HMRC, and recent tax changes.A practical look and 'what is R&D', how to spot it and how to make an R&D claim.Where to look for help, and what format that help might take.
James Tetley, RSMJames is a partner and head of Innovation Reliefs at RSM, and has extensive experience advising businesses of all sizes and across a range of sectors in making R&D claims. James has also been a member of the HMRC R&D Consultative Committee for many years, where he has worked with members of HMRC, HM Treasury and other advisors and stakeholders in supporting the continued delivery of the R&D regimes.
Anita MonteithAnita is ICAEW’s Tax Technical lead and senior policy adviser and has a particular interest in tax matters affecting SMEs. She is closely involved with online filing developments in tax, including the government’s proposals for Making Tax Digital.
Seconded to the Treasury Select Committee in 2011, Anita then continued as a special adviser to that committee working with it on a number of projects for several years. She has a particular interest in the taxation of work and in 2014 was seconded to the House of Lords Select Committee on Personal Service Companies.
She is a qualified Chartered Accountant and Chartered Tax Adviser and a past chairman of the ICAEW Tax Faculty.
Anita is a regular speaker and chairperson at conferences, appears frequently on television and radio talking about tax and is a regular on Radio 4’s Moneybox.
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