Read time: 3 minutes Rishi Sunak’s 2022 spring statement promised to reform the UK's R&D tax credits to be more generous to businesses. Which sounds like great news for small and medium sized enterprises (SMEs). But how does the government plan on doing this and how will it benefit your business ? Changes in R&D tax [...]
BACKGROUND AHK Recruitment Limited (“AHK”) v. HMRC (2019) AHK is a UK based company that provides human resources (HR) services and develops HR systems. In 2014 and 2015, the company aimed to research employee attributes (e.g. values, motivation and intellect) and develop technology to assess these in a statistical, methodical way. This work sought to: [...]
If you are a small or medium-sized enterprise (SME), you may be eligible to claim R&D tax relief, if your project meets the definition of R&D. This will allow your company to: deduct an extra 130% of the qualifying cost from your yearly profit, as well as the normal 100% deduction, coming to a total [...]
A statement released by the BioIndustry Association (BIA) highlights the potential harm the proposed changes to the R&D tax credit schemes could have on small and medium-sized enterprises (SME). The government is proposing to introduce a cap on the value of cash payments that loss-making SMEs can receive through R&D tax credits. This would be [...]
Three global investors, WAVE Equity Partners, Chevron Technology Ventures and Marubeni Corporations, have invested £12.3 million in UK carbon dioxide separation technology innovator, Carbon Clean Solutions Limited (CCSL). CCSL, a UK-based start-up founded in 2009, is pioneering the way of developing affordable carbon capture technology for utilisation and storage, as used by steel, cement, refining [...]
Corporate Tax relief may be available for your small or medium-sized enterprise (SME) for costs incurred on research and development (R&D). R&D relief allows SMEs that carry out qualifying R&D related to their trade to claim an extra Corporate Tax deduction for certain qualifying expenditure. You can make a claim for R&D relief up to [...]
From 1 April 2019, R&D tax credit claims must be accompanied by a CT600 and full computation. A claim for R&D Relief up to 2 years after the end of the accounting period it relates to can be claimed by entering your organisation's enhanced expenditure into the full CT600 form. HMRC has implemented this change to [...]
Any company engaging in R&D activities and claiming tax relief will have claimed in one, if not many, eligible cost categories. Naturally, each category has a set of requirements and it's important to know what these are. For a number of categories 'incurred costs' and 'paid costs' are not the same things. In simple terms, some [...]
The world of makeup can be a daunting, even for the most experienced of artists. Maybe you’re a person who is traditional, meaning you haven’t changed your makeup in the past 10 to 20 years. Perhaps you have changed your makeup recently, but you want to be a bit more experimental without the risk of [...]
Despite U.K R&D spending reaching a record breaking 33.1 billion pounds, its efforts were still not enough and it currently only ranks 11th in the European Union, according to Office Of National Statistics. This signifies that Britain is lagging behind its major European peers when it comes to R&D spending. Britain invested 1.67 percent of [...]
Daniel McGregor2022-08-11I have been using Swanson Reed for my clients for more than a decade. Having a specialist firm that can provide practical and commercial advice that produces real outcomes is very important and we have received great feedback from our clients. Highly recommended.
Anatole Kononewsky2022-06-02The Swanson Reed team have provided our company with exceptional professional advice and assistance for all of our R&D claims for many years - have always achieved great results with excellent value for their services.
Melissa Doddy2022-05-31The Team at Swanson Reed are very experienced R&D Tax Advisors and gave us ongoing support with all of our R&D Claims, the consultants ensured we were always working with current legislative guidelines, gave us assistance with compiling technical and government documentation and went out their way to ensure they were with us for the entire process from beginning to end. Highly recommended to anyone who needs assistance with working through what can at times be a daunting process.
Alana Owers2022-05-30We have been dealing with Damian and Swanson Reed for several years in relation to processing our R&D claims. Always find them easy to deal with and helpful with all concerns and queries we have. We would highly recommend Swanson Reed for your R&D help.
Mexx Engineering2022-05-27We are a client of Swanson Reed since 2010. Damian and his team are very professional and extremely organised. At all times, our R&D applications were handled with care. They have reviewed each application extensively and made sure that we are supported every step of the way. We highly recommended their services.
Sarah Heath2022-05-27Damian and the team at Swanson Reed have been one of the most efficient professional organisations I have dealt with - their response time is commendable. Their specialist knowledge of R&D is extremely extensive but yet practical and importantly, they are approachable and considerate to the client's needs.
David Reisner2022-05-26We engaged with Damian and Angel at Swanson Reed on the recommendation of a related party. For the past four years they have helped my company navigate the process of research and development incentives offered by the Federal Government. This has been the single most important relationship we have had in financially supporting our journey as a start up. I can't recommend this organisation highly enough.
Sarah Hay2022-05-26Damian, Angel and the team have held our hand through the application of numerous R&D claims. They have consistently guided us through the collation of required information, ensuring compliance and simplifying the daunting task. Swanson Reed’s involvement has been vital to our successful applications!
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