IP Developments and issues [Article]

My article on recent developments in the area of IP taxation has just been published in CIOT's Business Tax Voice (p16). The article covers recent changes and developments in the R&D tax relief regimes, including HMRC's move towards standardised claim templates. It also looks at the changes being made to the UK's Patent Box regime. [...]

By |June 10th, 2016|Uncategorized|

HMRC’s plan for small business R&D tax relief – a bit of a damp squib?

HMRC launched their plans for improving access to R&D tax credits for small business on 28 October. To publicise the launch there were tweets (and retweets) from HMRC, HM Treasury and David Gauke (and probably others). The document - which is actually titled "Making R&D Easier: HMRC's plan for small business R&D tax relief" - [...]

By |October 30th, 2015|R&D, Uncategorized|

Is Rob Wilson MP really that lazy?

Poor old Rob Wilson, Conservative MP for Reading East, has been getting some stick lately for claiming 9p mileage on an expense claim. The issue for me is not that he claimed the tiny sum of 9p but that he drove 0.2 miles. That's a return journey of course, so 0.1 mile there and 0.1 [...]

By |July 22nd, 2015|Uncategorized|

The Summer Budget and Patent Box

Now that we've all had a chance to read and digest what was announced in yesterday's budget, what about what wasn't said? There was no mention of patent box. We might have expected some mention of the changes that will have to be made to the UK's patent box regime in order to make it [...]

By |July 9th, 2015|Uncategorized|

Should we be seeking to “protect” the term Accountant, or is there a better solution?

Note: for ease (and efficiency in terms word count), throughout this post I will use the term “Accountant” to encompass a financial accountant and/or tax adviser. In the interests of openness, I should also make it quite clear that I am a Chartered Tax Adviser and a Chartered Accountant.   Professional titles such as Doctor [...]

By |July 7th, 2015|Uncategorized|

Autumn Statement 2014 – R&D Tax Relief

George Osborne announced today that he is increasing the rate of R&D tax relief for both SMEs and large companies. The new rates, which will apply to expenditure incurred on or after 1 April 2015, are 230% for SMEs (up from 225%) and 11% for large companies claiming the R&D Expenditure Credit (up from 10%). [...]

By |December 3rd, 2014|Uncategorized|

Chris Moyles and regulation of tax advisers

Chris Moyles's attempts to reduce his tax liability are all over the press right now. However, if you're interested in the facts, the decision can be read here. To be fair, Moyles wasn't the only one who sought to use this scheme but he is, apparently, well known, so the press have chosen to focus [...]

By |February 22nd, 2014|Uncategorized|

R&D Expenditure Credit (Tolley’s Practical Tax Article)

Short history R&D tax relief for large companies was introduced in 2002, two years after it was introduced for SMEs. The headline rate of that relief is now 130% (i.e. an additional deduction of 30% on top of the normal 100% deduction for trading expenditure). From 1 April 2013 a new form of R&D relief [...]

By |December 10th, 2013|Uncategorized|

Why is there no table of contents on the FB 2014 Draft Clauses and Notes?

HM Treasury has published the Draft Clauses and Explanatory Notes for FB 2014. Now, I can live with the fact that that this document contains 673 pages - "simplification" seems to involve more and more legislation each year. However, why on earth was it not possible - once again - to include a simple table [...]

By |December 10th, 2013|Uncategorized|

What is the “United Kingdom Corporate and Individual Tax and Financial Transparency Bill” really about?

Has anyone actually read Michael Meacher's United Kingdom Corporate and Individual Tax and Financial Transparency Bill? I say it's Michael Meacher's Bill because he is the principal MP sponsoring it through the House of Commons. It was actually written, according to the claims on his blog, by Richard Murphy. I have to confess that, until [...]

By |September 6th, 2013|Uncategorized|