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A guide to: The difference between SME R&D relief and RDEC
If a company is carrying out R&D, it may be eligible to claim R&D Tax Credits through one of two schemes: the SME (Small-Medium Enterprise) scheme, and/or the large company Research and Development Enhanced Credit (RDEC) scheme. But what is the difference? In...
A guide to: What counts as R&D?
The R&D tax specialists at Luvo Financial explain exactly what counts as R&D
R&D tax credit cap: new rules for 2020
In the 2018 Budget, the government proposed a cap on R&D Tax Credits for SMEs, with plans for it to come into effect for accounting periods commencing on or after 1 April 2020. Ian Batkin, one of our founding partners and R&D tax specialists, explains all you...
R&D tax deadlines – don’t miss out!
HMRC is mandated to settle R&D tax credit claims within 28 days wherever possible. However, the majority of claims are presently taking around 12 to 13 weeks to be settled. With these current delays in mind, it is important that companies file R&D tax claims...
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...