Tax Issues in Research & Development

R&D Tax Credit Training Covers

• 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
• This R&D course looks at 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: We review most 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 covered in R&D 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. Our R&D workshop explores key lessons from the cases in research and development that HMRC has won and where it has lost
• This R&D course examines 2024 changes:
  
  • The 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 Credit training at Redcliffe is 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 pose unusual conceptual challenges.

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

Our R&D course specialist earned the Level 7 CIPD Masters 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.

A fully certified R&D training expert and educator, he built a distinguished career in taxation. Over the next 16 years, he worked at three of the 'Big Four' accountancy firms, eventually 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.

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

Redcliffe’s comprehensive research and development course is designed to:

• Equip participants with the expertise to identify and capitalise on R&D tax opportunities.
• Prepare attendees for the changing landscape of R&D tax reliefs, particularly in light of new compliance requirements and potential risks.
• Offer practical insights into how recent regulatory changes, such as those in the Finance Act 2023 and HMRC enforcement actions, impact R&D tax strategies.

R&D training empowers participants with the skills needed to identify R&D opportunities. These enriching modules cover the core principles behind R&D claims, upcoming changes in the next 12 months, and strategies for effective preparation.

Redcliffe’s research and development course is aptly designed for anyone who advises on R&D expenditure claims or is involved in reviewing them during the CT600 filing process. This training will greatly benefit 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 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 the training fully informed.