Are you submitting an R&D Tax Relief claim to HMRC?
From 1st August 2023, HMRC are requiring that R&D Tax Relief submissions will need to be accompanied by an ‘additional information form’ containing detailed information about your projects. Don’t worry as we take care of this paperwork for you, but we are anticipating that HMRC will incur significant delays in processing claims, therefore we advise you submit your claim this month to avoid delays to your benefit.
If you’re curious to know what HMRC are expecting to see in the form, you can find out what you need to prepare here.
If you have any questions about these requirements, reach out to a member of our team at rrabess@rck.partners.
Capital allowances are the main form of UK tax relief that allows businesses and property owners to deduct the cost of qualifying capital assets from their taxable profits. Governed by the Capital Allowances Act 2001, they take the place of commercial depreciation and provide a structured mechanism for obtaining relief on capital expenditure, either upfront or over time.
Capital allowances on cars allow UK businesses to claim tax relief on the cost of vehicles used for business purposes. This guide is written by RCK Partners to help UK businesses understand capital allowance claims on vehicles.
From April 2027, R&D tax credits will be excluded from QIP calculations, reducing the likelihood that companies are required to pay corporation tax early.
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