The most recently published data on R&D tax credits shows the manufacturing sector was responsible for 22% of all R&D claims made as of March 2020. This amounted to almost £2bn in R&D tax credit relief. It’s not too surprising, as the manufacturing sector contributes significantly to the UK economy. The nature of the industry also makes…

SMEs (or small and medium-sized enterprises) make up the majority of businesses operating in the UK. According to the UK Parliament Business Statistics published on 22nd January 2021, there were six million SMEs in the UK by the end of 2020. To put this into perspective, this accounted for over 99% of all UK businesses. HMRC has…

The Covid-19 pandemic has led to many businesses changing the way they operate. Of all of these changes, remote working has been by far the biggest shift affecting both workers and their managers in equal measure. Indeed, your client may not have been in their usual office for over a year and a half at…

While most R&D projects have a start date and an end date, when it comes to preparing an R&D tax credit claim, determining what those are can be challenging. HMRC’s guidelines for what stages of a project qualify for R&D tax credits are narrower than the full duration of the project. Often, your client’s understanding…

R&D tax credits are a huge boon for businesses of all sizes in the UK. As your client’s accountant, however, it is important to know exactly how R&D tax credits support companies. Financial assistance is especially important in current times. As the economy continues to recover from the effects of the Covid-19 pandemic, many businesses…

All businesses have a lot to gain by pursuing an R&D tax credit claim. However, there are a number of reasons that make them a great boon for small businesses in particular. The additional funding that small businesses can access through R&D tax credits is a large part of this. The way small businesses are…