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R&D tax relief for SMEs

R&D tax relief for SMEs

There are two schemes for claiming R&D tax relief – the Small or Medium-sized Enterprise (SME) Scheme and the R&D Expenditure Credit (RDEC) Scheme for large companies. The SME scheme offers more generous reliefs to qualifying companies. The amount of...
MTD for Corporation Tax consultation

MTD for Corporation Tax consultation

HMRC has issued a new consultation to examine how the principles established for Making Tax Digital (MTD) could be implemented for those entities within the charge to Corporation Tax. The consultation is open for comment until 5 March 2021. The regime MTD started in...
Benefit conditions – annual parties and events

Benefit conditions – annual parties and events

Now is usually the time that businesses are planning Christmas parties for staff as well as possibly for partners/spouses, clients and prospective clients. Of course, with the continued pandemic and various lockdowns Christmas is looking pretty much cancelled this...
Company trading losses

Company trading losses

Corporation Tax relief may be available where a company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offsetting the loss against other gains or profits of the business in the same or previous accounting period. The...
Contributions towards capital expenditure

Contributions towards capital expenditure

A wide variety of grants or subsidies are available to businesses and can be received in addition to their ordinary business income. It is important to identify these contributions and to establish whether they are capital or revenue in nature. Funding which...
Carry Corporation Tax losses back

Carry Corporation Tax losses back

Corporation Tax relief may be available where your company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offsetting the loss against other gains or profits of the business in the same accounting period. Where the...