In a recent analysis of the SME Research and Development Tax Relief program (MREP), some eye-opening trends have emerged, shedding further light on the considerable level of non-compliance within the UK R&D tax relief system.
Section 174 and the changes that occurred for tax years after December 31, 2021 have caused taxpayers and tax practitioners headaches. In the past, section 174 expenses were deductible, but they now require amortization over 5 or 15 years.
In January 2023, the UK government asked for feedback on proposals to combine the UK’s two research & development (R&D) tax reliefs: the Research and Development Expenditure Credit (RDEC) and the SME R&D Tax Relief systems. The stated aim was…
On July 18, 2023, Oregon Governor Tina Kotek signed into law a new refundable research and development (R&D) tax credit for semiconductor research. Oregon has not had an R&D credit since 2017 when the prior R&D credit expired and was…