Publications
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 ... Read more
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 ... Read more
Quick Guide to Taxation in Building Design and Construction
Like most industries, building design and construction has been hit hard over the past 18 months due to the coronavirus pandemic. Whilst there was a certain amount of support and monetary relief from the government, as the UK gets back to some form of normality, 2021 has seen a raft of tax changes for the ... Read more
Are Innovation and Incentivisation the Answer to Climate Change?
Even if you don’t watch or read the news, you can’t have missed the rampant wildfires in Canada, and much closer to home in Greece, wiping out entire villages and towns. You can’t have missed the devastating, destructive floods that tore communities apart in Europe. Even in the UK, torrential rainfall flooding not just the ... Read more
Is Net Zero Carbon Construction Really Possible?
Most of us remember the Extinction Rebellion’s protests in 2019 against climate change. Whilst they caused untold disruption at the time – maybe they went a bit too much over the top and lost some of their impact – no one can deny the media attention they drew towards the impact of climate change on ... Read more
What You Need to Know About the New Super Deduction Allowance
In this year’s Budget, Rishi Sunak, Chancellor of the Exchequer, announced the new Super Deduction Allowance, as part of the Finance Bill 2021, whereby businesses are able to claim for any expenditure they’ve incurred on new fixed assets of plant and machinery. The new allowance is only for the actual expenditure incurred between 1st April ... Read more
An introduction to capital gains tax
Wilby Jones Consulting’s experienced tax advisors are able to assist you with a wide range of complex tax issues, including 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 ... Read more
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 ... Read more
What are capital allowances, and who can claim them?
Your business may be eligible for capital allowances if it has invested money in permanent assets for the company. Capital allowances are just one of the many specialist tax relief services we provide at Wilby Jones Consulting. Keep reading to find out more about capital allowances, and if your business could be eligible… What ... Read more
Christmas message from Simon and Darryl
As we wrap up an exciting year of business, Wilby Jones Consulting partners, Simon and Darryl, would like to share a seasonal message with their community of staff and followers… What a year we have had! Since deciding to branch out into Wilby Jones Consulting in early March, the business has gone from strength to ... Read more
Five reasons R&D tax relief is the perfect Christmas gift for your business
As we wrap up what has been probably the most unsettled year in living memory, it’s time to start planning for the next 365 days. As you do your Christmas shopping for your loved ones this festive season, don’t forget to treat your business, too. While none of us can know what 2021 will bring, ... Read more
Who can claim R&D tax relief?
One of the most common queries we receive here at Wilby Jones Consulting concerns the eligibility of businesses for the R&D tax relief scheme. Many businesses aren’t sure if they’re entitled to benefit from the R&D tax relief incentive. We’re here to set the record straight: businesses from any sector can potentially make use of ... Read more
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 Consulting. We sat down ... Read more
FAQs about R&D tax relief
Although R&D tax relief is an incredibly rewarding statutory tax scheme, it is often misunderstood. To help more businesses benefit from this tax reduction incentive, we’re happy to spend time educating prospective clients on the ins and outs of R&D tax relief. Here are just a handful of the questions we’ve been asked about R&D ... Read more
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 ... Read more
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 ... Read more
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 ... Read more
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 ... Read more
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 ... Read more
Claiming research & development tax reliefs
The UK government offers Research and Development (R&D) reliefs. These tax credits support businesses 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. You may be able to ... Read more
Who can claim R&D expenditure in tax credits?
We will begin with a clear statement: R&D tax credits are not restricted to particular industries. Examples of projects that might qualify for R&D tax relief include: research and development of a new process, such as a more efficient manufacturing technique; developing and producing a model, like a more energy-efficient machine; working out original computer code ... Read more
Choose your R&D tax adviser with great care
If your company operates with any level of development or innovation it is likely you have been approached by several companies offering to assist you in making an R&D tax claim. As with any service, there are good companies, bad companies and downright poor companies. So how do you know who to work with? More ... Read more
Scottish (and English) businesses are missing out on R&D tax relief
Every year, we usually head north from our base in Norfolk 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 ... Read more
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 (alliterative again - last one we promise!) rings true for so many companies, with many unaware of the tax savings they can make from ... Read more
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