News & Events

HMRC has the right to investigate any tax return submitted by any taxpayer. The department has considerable powers to inspect documents and to question the taxpayer. HMRC does not need a reason for an investigation. It selects some returns at random so an investigation does not necessarily mean that you are suspected of doing anything … Continued

Research and development (R&D) and patent expenditure are treated generously for tax purposes. The main provisions are: • R&D relief • capital allowance for R&D • expenditure on patents and know-how • the patent box. What is R&D? For accounting purposes, R&D is largely defined as expenditure that cannot qualify for tax relief unless it … Continued

Welcome to your March newsletter. In this issue, we look at how a skills shortage might hamper growth. We examine the rise in online sales and how smartphones are affecting in-store shopper behaviour. Business groups have called for a reform of the Prompt Payment Code; we explore the details. And in Your Money news we … Continued