Upcoming changes for R&D from 2023

In the Spring Statement this year the Chancellor revealed the plans for his vision of the Research and Development landscape. The full extent of the changes will be confirmed in due course, but as things stand this is what is proposed… Cloud Computing Costs The chancellor’s announcement stated that “from April 2023, all cloud computing…

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How hard-pressed SMEs can obtain business support

Small businesses are the lifeblood of the UK economy, but with rapid inflation and other economic headwinds making trade difficult, they can struggle to access support. There is a wide range of important tax reliefs available to SMEs, which could provide some much-needed financial assistance. These include: Employment Allowance claims This scheme allows eligible businesses…

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Penalties for misuse of Coronavirus Job Retention Scheme

New legislation allows HM Revenue & Customs (HMRC) to recover Coronavirus Job Retention Scheme (CJRS) grants that have been overclaimed. Those who fall foul of the legislation could face interest charges, financial penalties and even be named and shamed. If a business overclaimed a CJRS grant and has not repaid it, it needs to inform the tax…

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Take action – Loans to small businesses drop to record low

Research from the Federation of Small Businesses (FSB) shows that successful applications for finance among members have dropped to the lowest level on record. Conversely, figures from the Bank of England show the annual growth rate of lending to big corporates has increased significantly since the start of the year. It has led to the…

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