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Could R&D Tax Relief…

During the 2017 Autumn Budget, the Government outlined a long term vision for investment in UK science and innovation by announcing a £2.3 billion investment in Research & Development. This investment is intended to contribute towards a Government target of UK Research and Development becoming 2.4% of GDP by 2027. The announcement means that companies can continue to claim Research & Development tax credits. These tax credits provide generous corporation tax relief to companies who incur qualifying revenue expenditure on Research and Development. What constitutes as Research and Development? For tax purposes, HMRC define…

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Carillion liquidation – could…

On 15 January 2018, the court appointed the Official Receiver as liquidators of: Carillion Plc Carillion Construction Limited Carillion Services Limited Planned Maintenance Engineering Limited Carillion Integrated Services Limited Carillion Services 2006 Limited Employees, customers and suppliers can visit a dedicated website page with further information. If you think you may be affected by this, and as a result require advice or guidance, whether it be on how best to get in touch or deal with the liquidator, or if you think it may place you or your business in financial difficulty, please get in touch…

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Digital farmer_web_0118

Making Tax Digital for…

As we approach the 31 January filing deadline for annual self-assessment tax returns, it is worth remembering that full implementation of the forthcoming Making Tax Digital (MTD) regime by HMRC will potentially mean the end of the annual tax return for millions of people. The MTD vision set out by HMRC is to make the tax system for businesses operate much more closely to “real time” with quarterly reporting, as opposed to the current system of reporting information on tax returns and paying liabilities long after the end of the tax year. Due to…

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Options meeting_web_0118

Why options might be…

Recruitment and retention of staff is always an issue for businesses, and this is increasingly the case in a labour market with relatively low unemployment and where Brexit may cause further restrictions in the availability of staff. Indeed, the marginally higher tax cost to potential candidates of living in Scotland may also make it more difficult to recruit. When you are looking for, say a new manager in your business, it can be difficult to identify quality candidates or to persuade them to move to your company. Obviously paying a higher salary can be…