An Update on R&D Incentives
July 29, 2019DownloadsDownload Article
The purpose of this article is to discuss two important developments in UK R&D tax incentives.
The first was the announcement in the 2018 Budget and subsequent consultation on the proposed cap on payable tax credits under the SME regime. This measure has been proposed in order to counter increasing levels of abuse, where vehicles are being established in the UK simply to access tax credits and there are little or no accompanying UK activities.
The second is the launch of HMRC’s R&D digital form aimed at improving the quality of information to be submitted alongside claims.
The article is written by Richard Turner, a senior managing director at FTI Consulting based in London. Richard has over 15 years’ experience working in R&D tax credits and leads FTI Consulting tax and innovation services encompassing IP planning, R&D incentives and the UK patent box. He also has significant experience in life sciences and technology.