Tax Issues in Research & Development

R&D Tax Credit Training: Half-Day Structure

• Principles of Research and Development relief:
  • What qualifies for Relief
  • Looking beyond the R&D pharmaceutical industry
• The Small Company Regime:
  • Which companies qualify under the Small Company R&D Regime?
  • The Choice between CT deductions and research & development tax credits
• The Large Company Regime:
  • The impact of the increases in R&D tax credits on the regime
• Claiming for subcontracted work:
  • Parameters and limitations
• The new territorial limitations:
  • How will these work
  • What R&D industry outside the UK can still be claimed?

• Advance reporting requirements commenced in August 2023, and digital reporting
• Case Law: Participants of this R&D tax credit training review case law developments as HMRC takes a more robust approach to claims.

• Structuring an R&D report:
  • How to make the report credible and accurate
• Common errors:
  
  • HMRC (HM Revenue and Customs) has given guidance on common errors and R&D tax relief claims
  • Reviewing the actions to avoid
• Agent’s responsibilities when signing CT600:
  • Often, the agent responsible for preparing the CT600 may not have been involved in the original R&D report
  • The level of responsibilities of all parties
• Lessons from tax cases on R&D:
  • HMRC has recently successfully challenged several research and development claims in the courts: this R&D tax training course explores key lessons from the cases in research and development that HMRC has won and lost
• 2024 changes:
  
  • The Finance Act 2023 implemented significant changes to the R&D Regime
  • 2024 changes: further restrictions on R&D claims and the merger of the SME (Small and medium-sized enterprises) and RDEC (Research and Development Expenditure Credit) Regimes
  • The new R&D intensive regime for SME’s

Redcliffe's R&D Tax Credit training lead is a Director of a consultancy company specialising in taxation, share scheme advice, reward and lecturing. He has developed a specialised share scheme service for small companies and advises FTSE companies on communication. He is a certified expert and educator, and built a distinguished career in taxation.

With almost 9 years at Henderson, he led the Share Schemes team for part of that time. Our course specialist also earned the Level 7 CIPD Master's qualification while at Henderson.

Before Henderson, he was with Australian Mutual Provident (AMP) and helped set up one of the first Share Incentive Plans (SIP) for large companies in 2001. It was so unusual at the time that the Revenue phoned the trainer to find out how they could encourage more large companies to adopt SIP.

Over the next 16 years, our r&d tax training course expert worked at three of the Big Four accountancy firms, securing a Senior Manager role at Deloitte & Touche. During this time, he gained extensive experience in areas such as profit-related pay, share schemes, expatriate tax, tax investigations, reward management, US taxation, transfer pricing, and corporate tax.

The lecturing side of his work covers most aspects of Direct Taxation. His particular interests include employment taxation and transfer pricing, which pose unusual conceptual challenges. Away from work, our trainer likes cricket, history, skiing, tennis and gardening. He gives off-topic lectures on history, keeping his presentation skills sharp.

Redcliffe’s comprehensive R&D tax relief courses provide you with the following skills:

• The expertise to identify and capitalise on research and development tax opportunities.
• Prepare you for the changes to R&D tax reliefs, particularly amid new compliance requirements and potential risks.

R&D tax relief compliance training offers practical insights into recent regulatory changes that impact R&D tax strategies such as:

• The Finance Act 2023
• HMRC enforcement actions

We empower participants with the skills to identify opportunities. Workshop modules cover the core principles behind R&D claims, upcoming changes and strategies for effective preparation.

Redcliffe’s research and development tax relief training is ideal for:

• Professionals who advise on R&D expenditure claims
• Professionals involved in reviewing them during the CT600 filing process
• R&D tax relief training for accountants, auditors, tax advisors, in-house staff, and R&D tax consultants

April 2023 and April 2024 saw the most radical changes to research and development tax relief since the inception of the R&D Expenditure Credit.

The trend for increasing R&D tax deductions for small companies was dramatically reversed. In response to increased concerns about fraudulent claims, the compliance regime has tightened with new disclosure requirements and responsibilities.

Recent arrests for allegedly fraudulent R&D claims have also highlighted the role agents play in complying not only with tax legislation but also with the code of conduct of their professional regulatory body.

Tax reliefs for R&D remain an attractive incentive to carry out research and development in the UK. One, however, needs to recognise the changing rules on R&D and also the further changes in 2024, including updated guidance on the Additional Information Form.

R&D tax credit training at Redcliffe ensures delegates leave the training informed and prepared.