Latest News
R&D Tax Credit delays: our advice
A recent note from the Chartered Institute of Taxation reveals the extent of the current delays in processing R&D Tax Credit and RDEC claims. With the majority of submissions taking around 13 to 14 weeks to be settled, Ian Batkin shares some advice for claimants...
Eligible R&D: can you make an R&D Tax claim?
The government’s R&D Tax scheme means businesses can recover up to a quarter of what they’ve spent on eligible R&D. But what does 'eligible R&D' mean, and how do you begin making an R&D Tax claim? Luvo works extensively for SMEs in a wide variety of...
R&D Tax Relief: a guide
Introduced in April 2000, the government’s R&D Tax scheme means businesses can recover around 25% of what they’ve spent on eligible R&D, delivering an average pay-out of between £45,000 and £55,000 per claim for SME’s, but around 90 percent of eligible businesses haven’t yet made a claim.
Senior financial specialist joins Luvo team
Financial specialist and accountant Mark Wilcox has joined Luvo Financial. Chartered Management Accountant Mark is the latest hire in the firm’s recruitment drive, and brings 35-years’ experience in senior financial and accounting in-house roles for large...
Little-known ‘technical capability’ criteria could threaten R&D Tax eligibility for software developments
October 2018 saw the introduction of updated criteria governing the eligibility of software development projects for R&D Tax Credits and R&D Tax Relief, but HMRC didn’t widely publicise the updates, meaning many advisers and software developers themselves are...
Unlocking R&D Tax opportunities for SMEs
With an average claim worth in the region of £50,000, what’s not to love about R&D Tax Credits that provide tangible reward for investment made in innovation and encourage and support future ongoing investment too. However, with less than 10 percent of eligible UK...
Magnificent 7: why accountants work with Luvo on R&D tax claims
Luvo is committed to creating and nurturing strong working relationships with accountants, and our team is fortunate to have worked with many since the firm began. Our team works with accountants in a way that suits their firm and clients – so either directly with...
R&D Tax Relief and Corporation Tax returns
Luvo Financial shares advice on how to present the right information in the Corporation Tax return to support a speedy turnaround of R&D Tax claims. In the latest in our series of ‘practical guidance top tips’, we look at CT600 forms and share our six tips for...
Government confirms R&D Tax consultation
The Chancellor has confirmed the planned consultation into Research & Development (R&D) Tax relief is to go ahead, a step that Luvo Partner Ian Batkin hopes won’t be a case of the minority spoiling matters for the honest majority. Back in his Autumn Budget...
Innovative Midlands businesses still failing to claim R&D Tax Credits
Luvo Financial, specialists in R&D Tax Credits, reports that less than one in ten of Midlands based SMEs that could be eligible for financial support from the government, has actually made a claim.