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HMRC’s approach is harming valid R&D claims – Accountancy Daily
R&D remains a hot topic and HMRC has tightened its R&D claims guidelines and processes, in order to address perceived areas of risk. The increased scrutiny has inadvertently affected genuine claimants.
Associated companies rules for Corporation Tax
From 1 April 2023, the ‘associated companies’ rules were reintroduced for Corporation Tax purposes. Individuals, trustees, partnerships and funds who control several companies which are not in a group structure should now be considering these rules and the impact they are likely to have on Corporation Tax rates and quarterly instalment payments for their companies’ current and future accounting periods.
US equity for UK employees – tax considerations
A common scenario for UK subsidiaries of US headquartered businesses is UK based employees being awarded equity in the US parent company. This article explores some of the key UK tax considerations to be aware of.
Spring Budget 2024 – R&D updates (or lack thereof)
Against the backdrop of the upcoming Autumn general election, the Spring Budget 2024 was released, with a notably quiet nod to R&D tax credits. In a period of economic uncertainty, highlighted by the recent announcements of recession and some of the progress made in tackling inflation, it was a breath of fresh air to receive some clarity and a much-anticipated confirmation of some of the things we were expecting to see.
Spring Budget 2024 – updates for businesses
Following the announcements made during the Spring Budget 2024, there are are number of changes which will have an affect on businesses for the new 2024/25 tax year.
Case study: HMRC R&D enquiry
Case study takeaways:
- Our client provides e-learning services internationally and they developed an online educational platform specialising in IELTS
- haysmacintyre worked with the client to prepare a response to HMRC following an enquiry, defending their R&D work
- HMRC accepted both claims on our first response with no further amendments
Changes to creative sector tax relief claims
Last year, HMRC announced that it would change the process for making creative sector tax relief claims. Although the change was announced last summer, guidance was only issued by HMRC on 19 February 2024 leaving a very short window for organisations to be compliant with the new rules.
haysmacintyre reinforces team investment with trio of new Director appointments
We’re delighted to announce three promotions, reinforcing our commitment to the development and progression of our people.