Tax Issues in Research & Development

R&D Tax Relief courses cover:

• 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 sub-contracted work:
  • Parameters and limitations
• The new territorial limitations:
  • How these will work
  • What R&D industry outside the UK can still be claimed?

• Advance reporting requirements commenced August 2023 and digital reporting
• Case Law
  • We review the most case law developments as HMRC take a more obust approach to claims.

• Structuring an R&D Report:
  • How to make the report credible and accurate
• Common errors covered in R&D tax credit training:
  • HMRC (HM Revenue and Customs) has given guidance on common errors and R&D tax relief claims
  • We review 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
  • We look at the level of responsibilities of all parties
• Lessons from tax cases on R&D:
  • HMRC has recently successfully challenged several R&D claims in the courts. We look at the lessons from the cases in research and development that HMRC has won and where they have lost
• 2024 changes:
  • Finance Act 2023 implemented significant changes to the R&D Regime
  • 2024 saw more changes such as 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

R&D tax relief courses at Redcliffe are delivered by the 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. The lecturing side of his work covers most aspects of Direct Taxation but his particular interests include employment taxation and transfer pricing, which poses unusual conceptual challenges.

With almost 9 years dedicated to Henderson before the above, he led the Share Schemes team for part of this time.

This specialist took the level 7 CIPD Masters qualification whilst 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.

R&D tax relief courses are delivered by an expert who began his career in taxation. For the following 16 years, he worked in three of the “Big Four” accountancy firms before landing a Senior Manager role with Deloitte & Touche having worked on issues such as profit-related pay, share schemes, expatriate tax, tax investigations, reward management, US taxation, transfer pricing and corporate tax.

Away from work, our trainer likes cricket, history, skiing, tennis and gardening. He gives lectures on history which helps keep his presentation skills fresh.

R&D Tax Credit training equips participants with the necessary skills to identify R&D opportunities. Sessions provide an understanding of the principles underlying R&D claims, how they are changing over the next 12 months and how you can prepare.

R&D Tax Relief courses at Redcliffe Training take a practical look at claims while considering developments over the last 12 months. Training includes the FA2023 and HMRC’s enforcement action.

Differentiating itself from similar courses, our training considers case law research and development allowances in the courts and how this will affect future R&D claims.

Sessions are delivered by a specialist with actual dedicated industry experience and not just information they have learned in a classroom. Because of this, participants find our training informative and engaging.

R&D Tax Relief courses are pertinent to anyone who either advises on R&D expenditure claims or is required to review them as part of the process of filing a CT600. Auditors, tax advisors and in-house staff by R&D tax consultants will greatly benefit.

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 been tightened with new disclosure requirements and responsibilities.

Recent arrests for allegedly fraudulent R&D claims have also highlighted the role that agents have 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 R&D 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 training fully informed.