Research and Development (R&D) tax relief is a valuable incentive provided by the UK government to encourage innovation and technological advancement; however, understanding the rules and regulations surrounding subsidised expenditure can be challenging. In this article, we will delve into... Read More
Effective from August 8, new requirements for filing and claiming Research and Development (R&D) tax relief in the UK will demand meticulous record-keeping to avoid lengthy and onerous information gathering exercises come the company’s year end. Read More
While the UK's proposed additional tax relief for R&D intensive SMEs holds promise for driving innovation and economic growth, the delay in passing this legislation into law introduces a dose of uncertainty. Read More
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. Read More
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. Read More
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... Read More
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... Read More
Over recent months, HMRC has conducted an in-depth analysis aimed at gaining a better understanding of non-compliance within the country’s research and development (R&D) tax reliefs. The resulting comprehensive study focused on the 2020/2021 tax year and represents the most... Read More
The UK’s Research & Development (R&D) regime has been in the news since the start of 2022. The Government has been concerned about both the quantum and quality of claims and has been at pains to reduce the perceived levels... Read More
On March 16, a bipartisan bill was introduced to Congress to roll back the provision of the Tax Cuts and Jobs Act (TCJA) that requires capitalization and amortization of Research & Experimentation (R&E) expenses under IRC Section 174. The bill,... Read More
