Lessons Learnt From Successful Enquiry Defence
Enquiries are becoming more common across the industry, as HMRC rightly crack down on abuse in the scheme. They have taken a strict approach and the enquiry rate has ballooned from 2% to a reported 22% in 2022/23. This has resulted in the first annual decline in R&D claims submitted in the UK for 10 […]
The Autumn Budget…
After months of speculation, Labour’s first Budget in 14 years is finally here. Back in August, Rachel Reeves referred extensively to a ‘black hole’ in the UK’s finances and that things would inevitably get worse before they got better. The challenge facing Labour, was the majority of the £1 trillion raised by the previous Government […]
Client Testimonial: Britannia Fire
Britannia Fire are responsible for the biggest innovation in firefighting equipment this decade, creating a portable, multipurpose fire extinguisher. Recently, we had the opportunity to sit down with Andy Spence, the company’s Managing Director (MD), to discuss how their business has evolved since partnering with us. Andy, can you give us a brief introduction […]
Why Hasn’t my Accountant Mentioned R&D Tax Credits?
Given the potential for substantial financial benefits, why are so many accountants keeping schtum about R&D tax credits? As a business owner, you rely on your accountant for sound financial advice, so not mentioning R&D Tax Credits could cost you. There may be many reasons why your accountant has failed to mention the value R&D Credits […]
Choosing an R&D Tax Credit Advisor – What To Consider
Choosing an R&D tax advisor is like entering into any relationship, there has to be trust. But being that you aren’t about to go on a string of dinner dates or awkwardly fall back into their arms while they catch you, a bit of due diligence can tell you everything you need to know about […]
Highlights from HMRC’s Research and Development Tax Credits Statistics Report 2021
In order to boost spending on innovation, HMRC introduced Research and Development Tax Credits in 2000. They deduced that by reducing a company’s Corporation Tax liability this would encourage SMEs to invest more on R&D in the future. In 2002, this scheme was extended to larger companies. In 2013, the Research and Development Expenditure Credit […]
Boosting Youth Employability with Innovative Partnerships
Sadly, not everyone has access to a great education, university, a gap year and excellent job opportunities. Indeed, there are thousands of children and young people across the world that haven’t had these privileges. They have had to deal with a lack of parental support or just not enough money to be able to pay […]
Q&A with Jacob Low of JaK Studio Architects
Here at Wilby Jones, we specialise in supporting architectural and design firms through the R&D tax relief process (although we also work with companies from other sectors, too). One such firm is JaK Studio: A RIBA Chartered design studio, with ties to London, Sarajevo, and Riyadh. We’re proud to have helped JaK achieve a well-deserved […]
An Introduction to Capital Gains Tax
What is capital gains tax? If you intend to sell one of your assets in the near future, it may be worth first spending some time on tax planning. Here’s everything you need to know about capital gains tax, including how the system may change in 2021… Capital gains tax is a type of tax […]
Our take on the Spring Budget 2021
It’s been a gruelling 12 months for the UK economy, so we were interested to see what restorative measures the Chancellor, Rishi Sunak, would deliver in his March 2021 Spring Budget statement. Here are five of the biggest changes the Chancellor delivered, along with our take on how they could affect us, our clients, and […]
Q&A with Gordon Haxton of Haxton Chartered Accountants
While most of our clients come to us directly, this isn’t always the case. We have something of a referral scheme established with a trusted accountancy firm, Haxton Chartered Accountants. If they have a client that they think could benefit from some tax advice, they refer them over to Wilby Jones. We sat down with […]
R&D tax relief for engineering firms
Welcome to Wilby Jones guide to R&D tax relief for engineers. Although we support businesses from many sectors with their tax relief claims, we’re specialists when it comes to R&D relief for engineering firms. This means we’re able to give you advice that’s tailored to your business. Our engineering clients are able to simply tell […]
Five things we’ve learned from HMRC’s R&D Tax Credits Statistics Report
Every year, HMRC releases a number of statistics in a report on the recent R&D tax relief claims. These statistics provide a deep dive into the state of R&D tax relief in the UK. In more practical terms, they provide information on: The number of businesses making R&D relief claims What businesses are claiming for […]
Client Q&A: Felix Finkernagel of Finkernagel Ross
Although we work with clients from different sectors, we specialise in helping architects benefit from R&D tax relief. In fact, over 60% of our clients work in architecture, with a further 15% working in related fields such as engineering. To help you get a better idea of what it’s like to work with Wilby Jones, […]
What to look for when choosing an R&D consultant
Interested in exploring R&D tax relief for your business? Time to choose a specialist R&D adviser. The right consultancy can mean the difference between a successful R&D claim, and a large headache for your business. In this article, we’ll run through what to look out for, and what to avoid, when it comes to choosing […]
Exploring remote working and its impact on innovation
Over the last few months, working remotely has become part of everyday life for many businesses. Although many companies are now opening their doors to staff, others have no intention of instigating a mass ‘return to work’. As the way we work has changed dramatically, we must negotiate a number of challenges if we are […]
Why HMRC rewards innovation in UK businesses
HMRC’s R&D tax relief scheme isn’t just a nice ‘perk’ for UK businesses: it’s a strategic incentive designed to encourage innovation. Keep reading to find out why… The R&D tax relief incentive reduces the amount of corporation tax that businesses have to pay. If you can prove to HMRC that your business spent money on […]
Your guide to R&D tax relief
Welcome to Wilby Jones Consulting’s guide to research and development (R&D) tax relief. R&D tax relief is one of the most lucrative, yet under-utilised tax incentives. There are over 2.1M SMEs in the UK, and less than 5% of them claim R&D tax relief. Launched by HMRC in 2000, R&D tax relief intends to stimulate […]
Scottish (and English) businesses are missing out on R&D tax relief
Every year, we usually head north from our base in Norwich to the delightful cities of Glasgow and Edinburgh on client meetings. If you know the transport network of East Anglia, you’ll be fully aware of what a mammoth operation this is as road and rail connections are, to put it politely, not up to […]
Invest in innovation and reap rewards with R&D tax relief
Everyone likes an alliterative title opening, don’t they? Takes you back to school days where you mastered similes, metaphors and alliteration along with other figurative language devices. Today though, that title rings true for so many companies, with many unaware of the tax savings they can make from research and development. Research and Development (R&D) […]
R&D tax relief and Covid-19
Research and Development (R&D) reliefs support companies that work on innovative projects in science and technology. It can be claimed by a range of companies that seek to research or develop an advance in their field. It can even be claimed on unsuccessful projects. We know it’s become something of a cliché but we think […]