HMRC has announced its proposed draft legislation for the UK’s new R&D tax relief scheme. Part of this proposal is the merger of the current schemes into one, with the intent of simplifying the claims process and reducing the amount of error and fraud currently present in the existing schemes.
Ayming has specific concerns over two elements of the proposal and how these might negatively impact many of our large clients. These are concerning subcontracted work and subsidised expenditure. In this free-to-download document, we outline the meaning of these two specific clauses and explain our concerns about their potential negative impact.
At Ayming, we know just how important a robust scheme is and one that truly rewards the innovative activities of our clients and allows them to further invest in their innovation. We are therefore also planning a lobbying effort to raise the concerns of not only ourselves but of our clients too. To understand how you can help, the R&D Tax Reliefs Review document will give you a deeper understanding of our concerns and what you can do to write your own response.
Gain an even deeper understanding of what the proposed merged scheme means and its impacts by watching our on-demand webinar!