The purpose of the Patent Box is to encourage companies to invest in the development of innovative new technologies by offering a reduced rate of Corporation Tax on the profits that patented products or processes generate
#IntellectualProperty https://t.co/VFgQWCjb3S
HMRC have provided some updates relating to issues affecting R&D Tax Relief claims. Including errors relating to the CT600 form (for RDEC claim), Electricity Generator Levy receipts, and filing issues relating to Residential Property Developer Tax (RPDT).
https://t.co/XliVo2esy5
Matt Pierce and Shannon Wilson of the Radius team discuss the significant new changes to the UK R&D scheme in 2023, including new reporting requirements and who they may affect most.
https://t.co/iPii4ZCdjg
The Patent Box scheme, introduced to encourage innovation and economic growth in business and industry, turned 10 years old in April 2023.
To mark a decade of the scheme in the UK, here is a brief history of Patent Box.
https://t.co/kE3ZdEBNNE
What to expect from an HMRC Enquiry into your R&D Tax Relief claim
The Radius team has put together this guide - explaining everything you need to know in the event of an HMRC enquiry.
https://t.co/gWWl0QyGiZ
There has been a lot of noise in the media and professional bodies about the change in the landscape of R&D Tax reliefs, with increased HMRC scrutiny on claimants and reductions in the amount of tax relief now available to SMEs.
https://t.co/4S6664rMcL
R&D tax relief brings valuable financial support as a reward for your company’s innovative activities. By implementing these ten tips, you can navigate the R&D tax relief claim process with confidence and increase your chances of a successful outcome.
https://t.co/FOFcZKeNro
The Radius team helped a business management consultancy secure over £20,000 in R&D Tax Reliefs. Specific uncertainties included scalability, overcoming size restrictions and integration.
Learn more in our Case Study guide: https://t.co/cyd778jrvP
Are you a #manufacturing company in the UK looking to gain a competitive edge and boost your bottom line?
In this article, we will explore what the Patent Box is, how it benefits manufacturing companies in the UK.
https://t.co/HqYd1FMuo6 #manufacturingpower
Thanks Sheffield Digital for helping spread the important message about upcoming changes to the R&D Tax Relief scheme.
From 1 August, there are new reporting requirements in order for your claim to be valid.
https://t.co/ONS2skBAf4
Can software innovation qualify for Patent Box in the UK?
While it is not a simple categorisation of qualifying versus non-qualifying software inventions, there are some general rules to be aware of, as explained in our latest blog.
https://t.co/duTsutXM75
The Radius team helped an innovative footwear manufacturer secure over £15,000 in R&D Tax Reliefs relating to their development of a new type of shoe.
You can learn more about this client and many more in our detailed R&D Tax Relief case study guide.
https://t.co/4liJZo1Sfa
The Radius team will further consider the implications of these changes for our clients and contacts and will produce more detailed analyses in due course
Jeremy Hunt delivered his Budget today, continuing to tread a cautious path in trying to balance stimulating growth with fiscal discipline.
Some important updates to R&D tax reliefs are included:
https://t.co/SH27IkLsI5
R&D claims submitted on or after 1 August 2023 will require digital submission using the “additional information” form on the https://t.co/5V8UABK33W HMRC portal.
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