What Does Corporation Tax Means? Corporation tax is the tax any limited company is liable to pay on the company’s annual profit. Profits on which you pay your corporation tax include the money your company makes from trading, investments and any gains made by selling out assets like property, shares etc. Every company liable to […]
What is the R&D Tax Relief Scheme? The UK government introduced an effective and highly profitable R&D tax relief scheme to support and encourage investment in innovation with a reward of a significant reduction in the company’s corporation tax. This scheme transforms businesses, enables them to grow with R&D incentives and ultimately boosts innovation in […]
How Does R&D Relief Scheme Work? The HMRC R&D Relief scheme was launched in the year 2000 by the UK government as an incentive to encourage innovation. It is a very generous scheme that significantly rewards companies investing in research and development projects to ring scientific or technological advancement. This scheme is equally beneficial for […]
On 20th July 2022, HMRC published draft legislation for Finance Bill 2022-2023, announcing some significant changes to the R&D tax relief scheme. Who will be affected by these changes? These amendments announced in the draft legislation will affect companies claiming under both SME and RDEC R&D Tax Relief Schemes, which will come into effect from […]
