HMRC Tax Article Archives - Source Advisors

HMRC tax and policy

Does the new merged RDEC scheme support FTT decisions?

After what seems to have been a long time coming, we are finally reaching the point where the merged R&D expenditure credit scheme will become

Luke Hamm | UK Managing Director 17 March 2025

HMRC tax and policy

HMRC releases new guidance on subcontracted and subsidised R&D activity

On 27 February 2025 HMRC released new guidance that clarifies the treatment of subcontracted and subsidised R&D activity under the SME scheme. This guidance marks

Deborah Chapple | Q&R Director 7 March 2025

Accountants

The role of professional standards in providing R&D tax relief services

Anyone involved in the R&D tax relief market will have experienced the volatility and changes the last two years have brought. Changes in rates, focus

Vicki Morrall | Accounting Partner Director 27 February 2025

HMRC tax and policy

What are the Chancellors options when it comes to R&D tax relief?

Every year, HMRC publishes statistics to show how the R&D tax relief schemes are being used. In recent years the focus has been on the

Luke Hamm | UK Managing Director 30 September 2024

Accountants

R&D Claim notification form – key information

Updated January 2025 You will have heard that soon, in some circumstances, HMRC will need advanced notice of your intention to claim R&D tax relief.

Vicki Morrall | Accounting Partner Director 19 September 2024

HMRC tax and policy

How to handle HMRC enquiries into R&D tax relief claims successfully

There has been a lot of angst in our industry about the rate at which HMRC has been opening enquiries. For Source Advisors’ clients who

Vanessa Cooper | Tax Director 15 August 2024

HMRC tax and policy

Clock is ticking to finalise the rules of the new merged R&D relief scheme

Earlier this month, HMRC released draft guidance around two key restrictions coming into force as part of the new merged R&D tax relief scheme scheduled

Akshay Thaman | IP & Policy Lead 29 February 2024

HMRC tax and policy

What do UK tax leaders think of recent changes to the R&D tax landscape? Evolution or Revolution

At the end of November 2023, we held our second roundtable discussion. Following the success of our first event in April 2023, it is important

Luke Hamm | UK Managing Director 7 December 2023

HMRC tax and policy

HMRC releases R&D tax relief and Patent Box statistics 2023

Yesterday HMRC released the latest statistics for the usage of the R&D tax relief and Patent Box schemes. Here’s an initial view of this year’s

Akshay Thaman | IP & Policy Lead 29 September 2023

HMRC tax and policy

HMRC aware of glitch in online RDEC claim submissions

As part of HMRC’s focus on the R&D tax relief scheme, an additional information form was introduced and is now a statutory requirement to complete

Vanessa Cooper | Tax Director 30 August 2023

HMRC tax and policy

Advanced notification requirement – clarification from HMRC

You will have heard that soon, in some circumstances, HMRC will need advanced notice of your intention to claim R&D tax relief. We’ve been receiving

Clive Flood | Chief Operating Officer 3 July 2023

HMRC tax and policy

How is the pressure on HMRC impacting R&D enquiries?

A headline in The Times, Saturday 20 May 2023 stated “Brace yourself for more HMRC chaos” and warned that new tax rules would mean more

Vicki Morrall | Accounting Partner Director 7 June 2023

HMRC tax and policy

What does a good technical report look like?

Unsurprisingly, HMRC are turning up the heat on R&D tax relief claims, and what was once deemed a quick win by business owners, accountants, and

Luke Hamm | UK Managing Director 6 February 2023

HMRC tax and policy

Autumn Statement 2022 – our initial response

What did the Chancellor announce in the Autumn Statement today? The R&D tax relief schemes were specifically mentioned by The Chancellor of Exchequer, Jeremy Hunt

Luke Hamm | UK Managing Director 17 November 2022

HMRC tax and policy

HMRC releases 2022 statistics for R&D and Patent Box tax relief

The latest statistics showing the value of R&D tax relief and Patent Box were published by HMRC today. What does an initial look at this

Luke Hamm | UK Managing Director 29 September 2022

HMRC tax and policy

Legislation Day – HMRC’s draft changes to R&D tax relief schemes

Yesterday (Wednesday 20 July) was what HMRC refer to as Legislation Day, on which they publish the draft legislation changes that have now been submitted

Clive Flood | Chief Operating Officer 21 July 2022

HMRC tax and policy

UK Digital Strategy – full on intent but lighter on new policy

The UK Digital Strategy policy paper was published on 13 June 2022. It reconfirms the government’s intent to make the UK the best place in

Luke Hamm | UK Managing Director 30 June 2022

HMRC tax and policy

Response to R&D Tax Reliefs Consultation – further information 2022

There were a number of proposed changes relating to the R&D scheme in the Autumn budget 2021. In the Autumn HMRC published their proposals and

Luke Hamm | UK Managing Director 14 February 2022

HMRC tax and policy

Latest R&D tax relief scheme changes, as announced in the Autumn Budget 2021

What was announced in the Autumn Budget 2021 concerning R&D tax credits? Following on from that consultation reforms that were announced in the Autumn Budget

Luke Hamm | UK Managing Director 2 December 2021

HMRC tax and policy

Budget 2021: What does it mean for R&D and innovation?

The Chancellor of the Exchequer, Rishi Sunak, presented his Autumn Budget and Spending Review to Parliament on Wednesday 27 October 2021. There were very few

Luke Hamm | UK Managing Director 10 November 2021

HMRC tax and policy

Day of reckoning for unscrupulous R&D tax providers as HMRC comes calling

The latest statistics showing the value of R&D tax relief were published by HMRC in October 2021. And as we noted at the time the

Luke Hamm | UK Managing Director 4 November 2021

HMRC tax and policy

HMRC’s statistics for R&D and Patent Box tax relief – GovGrant commentary

The latest statistics showing the value of R&D tax relief and Patent Box were published by HMRC yesterday. What does an initial look at this

Luke Hamm | UK Managing Director 1 October 2021

HMRC tax and policy

Is the UK’s flagship industrial policy a costly failure? No way!

A recent report by David Connell, Senior Research Associate, Centre for Business Research Cambridge Judge Business School, seeks to reappraise the objectives of the R&D

Luke Hamm | UK Managing Director 2 June 2021

HMRC tax and policy

Budget 2021 – what it means to innovative companies in the UK

The Chancellor had a tough task today in dealing with the short term needs and long term recovery that Covid-19 necessitated. It is encouraging to

Luke Hamm | UK Managing Director 3 March 2021

HMRC tax and policy

Blue sky thinking – we’ve never needed it more

First announced nearly a year ago, as part of the 2020 budget, it seems that the government is set to go ahead with the £800m

GovGrant 23 February 2021

HMRC tax and policy

The new cap on the SME R&D tax credit scheme

Further to our blog outlining the impacts of the Finance Bill 2021 we have received an update to the guidance on the new SME cap

Stephanie Taylor | Senior Tax Manager 7 December 2020

HMRC tax and policy

Finance Bill 2021 – impact on R&D tax credits

HMRC have recently announced changes to the rules for R&D tax credits for SMEs. The new rules have been designed to target perceived fraudulent claims

Stephanie Taylor | Senior Tax Manager 13 November 2020

HMRC tax and policy

Three challenges revealed in this year’s HMRC statistics

Now that I have had some time to digest the recent update from HMRC in respect of the R&D tax credits and Patent Box statistics,

Luke Hamm | UK Managing Director 6 October 2020

HMRC tax and policy

Latest R&D tax credits and Patent Box statistics are out

The latest Research and Development Tax Credits and Patent Box statistics have been released today by HMRC. It’s encouraging to see a year-on-year increase in

Luke Hamm | UK Managing Director 30 September 2020

HMRC tax and policy

The need for regulation in R&D tax advisors

There has been much talk about the regulation surrounding R&D tax advisors and it is a welcome conversation. I would love to work with like-minded

Luke Hamm | UK Managing Director 7 September 2020

HMRC tax and policy

HMRC’s hallmarks of Research and Development

In the recent HMRC consultation regarding the R&D tax credit cap for SMEs, they talked about a need to identify and rely on ‘Hallmarks’ of

Luke Hamm | UK Managing Director 8 July 2020

HMRC tax and policy

GovGrant responds to the government launch of the R&D Roadmap

On 1 July 2020 the government released an R&D Roadmap to set out vision to attract global talent, cut unnecessary bureaucracy and cement the UK

Luke Hamm | UK Managing Director 1 July 2020

HMRC tax and policy

GovGrant welcomes the BEIS announcement of R&D budget allocations for 2020 to 2021

It may seem like another era, but the UK budget on was less than 3 months ago. At that time the Chancellor set out his

GovGrant 5 June 2020

HMRC tax and policy

HMRC confirms the State Aid rules for each new Covid-19 loan scheme

GovGrant sits on the Research & Development Consultative Committee (RDCC) to represent UK’s business when it comes to the operational delivery of the R&D tax

Vanessa Cooper | Tax Director 29 May 2020

HMRC tax and policy

When HMRC investigates – what does it tell us about our industry

HMRC recently reported on the outcome of a first tier tax tribunal case investigation into an R&D tax claim.

Luke Hamm | UK Managing Director 22 May 2020

HMRC tax and policy

Speed of deployment – the measure of success for government support during Covid-19

In his first ever budget the Chancellor was bold and ambitious with his plans but since the 11 March the world and economy have changed beyond

Luke Hamm | UK Managing Director 15 May 2020

HMRC tax and policy

How will Covid-19 affect the going concern requirements?

Increased risk of material uncertainties In these unprecedented times, the audit of going concern assessments and reporting on material uncertainty related to going concerns are

Vanessa Cooper | Tax Director 11 May 2020

HMRC tax and policy

GovGrant – an active member of the CBI R&D working group

GovGrant – a seat at the table when policy is discussed Over the years our business has grown as a direct response to government initiatives

Luke Hamm | UK Managing Director 22 April 2020

HMRC tax and policy

New grant funding announced for UK’s innovative businesses

On Friday 3 April the government announced that Innovate UK, part of UK Research and Innovation, will invest up to £20 million in the funding

Akshay Thaman | IP & Policy Lead 6 April 2020

HMRC tax and policy

HMRC updates on R&D tax relief in the light of Covid-19

GovGrant, like many SMEs, is doing everything we can to share, support and advise UK companies at this time Yesterday we received an email update

Vanessa Cooper | Tax Director 3 April 2020

HMRC tax and policy

Spring Budget supports R&D tax relief

The chancellor stands firm on the government’s commitment to R&D tax relief. The government have announced sweeping measures to turbocharge the UK economy and commitment

Luke Hamm | UK Managing Director 11 March 2020

HMRC tax and policy

What does this election mean for innovation in the UK

The golden rule in an office, never talk politics – well sorry, I feel that I need to break that rule! The election manifestos have

Luke Hamm | UK Managing Director 26 November 2019

HMRC tax and policy

Government must do more to support innovation or risk losing our best businesses to competitors

Innovation tax specialist GovGrant comments on the annual HMRC tax credits statistics and says Government needs to demonstrate that it really is pro-business. Commenting before

Luke Hamm | UK Managing Director 10 October 2019

HMRC tax and policy

Good news in HMRC R&D tax credits report, but new policies needed to boost growth

Commenting on HMRC’s analysis of UK R&D tax credits in its report, published today Luke Hamm, CEO of innovation tax specialist GovGrant, which has helped

Luke Hamm | UK Managing Director 10 October 2019

HMRC tax and policy

GovGrant CEO Luke Hamm asks whether the government should be upping the pace on its artificial intelligence strategy

The government’s latest Industrial Strategy report on artificial intelligence (AI) delivers some welcome headlines, but I have a nagging feeling that progress in creating a

Luke Hamm | UK Managing Director 11 June 2019

HMRC tax and policy

GovGrant CEO Luke Hamm explores what lessons China’s industrial strategy can offer the UK

Luke Hamm is CEO of GovGrant, a specialist adviser helping companies take advantage of generous government tax incentives for innovation. You can’t keep China out

Luke Hamm | UK Managing Director 31 May 2019

HMRC tax and policy

GovGrant urges Chancellor not to go ‘down under’ for innovation and R&D tax policy ideas

Australian government proposals to restrict tax incentives for R&D and innovation have been delayed following an outcry from business and research groups. The proposals, intended

Luke Hamm | UK Managing Director 18 February 2019

HMRC tax and policy

GovGrant CEO says urgent reform of UK Patent Policy needed

Hacker Young study identifies obtaining more AI patents as key to UK’s future growth System for obtaining patents stacked against SMEs

Luke Hamm | UK Managing Director 24 January 2019

HMRC tax and policy

GovGrant calls for more R&D investment after latest EU stats rank UK at 11, well behind EU competitors

Commenting on the latest R&D figures from Eurostat [Estimates of Research & Development expenditure – 10 January], where the UK ranked 11th among EU member

Luke Hamm | UK Managing Director 11 January 2019

HMRC tax and policy

GovGrant welcomes new government initiative to help small businesses

Luke Hamm, chief executive of innovation tax specialist GovGrant, has welcomed the government’s announcement that it is to introduce new laws to protect small businesses

Luke Hamm | UK Managing Director 10 December 2018

HMRC tax and policy

GovGrant urges Herts businesses to claim credit for innovation after government announces local industrial strategy

GovGrant, the St Albans-based innovation and R&D tax credits specialist, has welcomed government plans to develop localised industrial strategies, including for Hertfordshire, but has urged

GovGrant 10 December 2018

HMRC tax and policy

GovGrant CFO Steve Phillips reflects on the 2018 Budget and its impact on innovation and R&D

As is usual, politics took centre stage following the 2018 Budget. Labour was under scrutiny after the Shadow Chancellor, John McDonnell, indicated that, unlike his

Steve Phillips | Chief Financial Officer 9 November 2018

HMRC tax and policy

Webinar: Budget 2018: Has the chancellor delivered on tax and innovation?

Overview Title: Budget 2018: Has the chancellor delivered on tax and innovation? Date: Thursday, November 01, 2018 Time: 09:30 AM Greenwich Mean Time

GovGrant 30 October 2018

HMRC tax and policy

GovGrant: Agri-Business a Key Sector for Investment and Active Policymaking

GovGrant, the innovation and R&D tax credits specialist, has welcomed the government’s commitment to the agri-tech sector following the outcome of a government-sponsored roundtable earlier

Luke Hamm | UK Managing Director 24 October 2018

HMRC tax and policy

GovGrant urges boost for productivity and innovation in the October Budget

GovGrant, the innovation and R&D tax specialist, has urged the Chancellor to use the tax system to boost the UK’s army of inventors and innovators

Luke Hamm | UK Managing Director 23 October 2018

HMRC tax and policy

GovGrant joins influential All Party Group for Design and Innovation

GovGrant, the innovation tax incentive specialist, has joined the All Party Design and Innovation Group (APDIG), a parliamentary body made up of MPs and Peers

Clive Flood | Chief Operating Officer 16 October 2018

HMRC tax and policy

Latest Govt stats highlight how SMEs are critical to the health of the nation.

Business powers our economy, even if Boris Johnson colourfully disagrees, and the Chancellor has a chance to underscore the government’s support for business – especially

Luke Hamm | UK Managing Director 15 October 2018

HMRC tax and policy

Innovation statistics: the government could do better says GovGrant

The Chancellor has announced that Budget day 2018, one of the busiest news days in the financial calendar, will be earlier than expected, on 29

Luke Hamm | UK Managing Director 1 October 2018

HMRC tax and policy

New government tax stats boost innovative UK businesses

The government is giving more of a boost than ever before to the UK’s most innovative companies, according to the latest full-year statistics from HMRC.

GovGrant 27 September 2018

HMRC tax and policy

GovGrant calls for UK’s innovative businesses to take up Government R&D support

GovGrant, the leading innovation tax relief specialist, has welcomed what the government has described as the ‘biggest increase in public R&D (research and development) funding

Luke Hamm | UK Managing Director 9 August 2018

HMRC tax and policy

Can the government help fund your manufacturing business?

It is certainly in the best interest of the UK to bolster the manufacturing capabilities of UK companies, especially during turbulent times when international trading

Luke Hamm | UK Managing Director 15 May 2018

HMRC tax and policy

Green Energy – every business can do it.

It is an essential element of the UK Industrial Strategy to encourage businesses to invest in green energy to ensure, we continue to reduce our

Luke Hamm | UK Managing Director 20 March 2018

HMRC tax and policy

We have a seat at the table

Last night, GovGrant hosted a dinner at the House of Commons with a number of MPs, industry experts and our clients to discuss how government

Luke Hamm | UK Managing Director 8 March 2018

Industrial Internet of Things: Now is the time to be bold

The statistics are truly mind-blowing and should act as a wake-up call to small and medium-sized enterprises (SMEs) across the UK. According to figures from

Luke Hamm | UK Managing Director 20 February 2018

Technology has triggered an earthquake in the financial services world

Advances in technology and the ever evolving digital landscape have triggered what can only be described as a revolution in the normally conservative world of

Luke Hamm | UK Managing Director 30 January 2018

HMRC tax and policy

Getting rid of scheme would be patently wrong

A long awaited report into tax credit relief was pretty much guaranteed to make waves because of its forthright views. The Institute for Public Policy

Luke Hamm | UK Managing Director 23 January 2018

HMRC tax and policy

Government needs to make sure that the support goes where it is needed the most

Everyone knows that running your own business is one of the toughest challenges out there in the professional world. It takes a mixture of guts,

Luke Hamm | UK Managing Director 16 January 2018

HMRC tax and policy

Government gets it right on Innovation

Philip Hammond made it abundantly clear in his Budget that innovation and creativity are the driving forces behind the UK’s economy.

Luke Hamm | UK Managing Director 24 November 2017