Catax

How SMEs opting for payable tax credits on R&D claims will be affected by new cap

HMRC has been busy setting out a new framework to prevent R&D tax relief being an increasing target for fraud and abuse.  One of its measures involves subjecting SMEs to a cap when they opt for the payable tax credit relief option for their R&D claims.  If you are getting…

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Loss-making companies still have time to capitalise on tax treatment changes

Loss-making companies were given extra support last year when the Chancellor announced a temporary change to the tax treatment of losses. It meant companies could carry back trading losses to offset against profits for an additional two years, with a limit of £2m per year. Unincorporated businesses such as sole…

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Catax acquires Access2Funding

Innovation funding specialist, Catax, has announced it has acquired Access2Funding, the R&D tax relief consultancy. Under the new terms, Access2Funding will continue to trade under its own name, and Catax will retain all 32 of the firm’s staff, including chief executive officer (CEO) Dawn Coker. Access2Funding said its process is…

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Knowledge Transfer Partnerships and their impact on R&D tax relief claims

Getting highly qualified and well-informed new talent into a business can not only help take that business forward, it can also qualify companies for generous tax relief. This month we’re taking a closer look at Knowledge Transfer Partnerships (KTPs), explaining what they are, how they work — and most importantly…

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Ryan acquires Catax

Ryan, the global tax services and software provider, has announced the acquisition of Catax, a research and development (R&D) and capital allowances tax reclaim specialist operating in the United Kingdom (UK) and Canada. It said the acquisition of the Manchester, UK-headquartered company “further strengthens” Ryan’s R&D global market position, helping…

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Incoming HMRC R&D claim rules will be a drain on accountants’ time

In little over a year, HMRC is going to insist on extensive submissions to back up R&D tax relief claims as part of its clampdown on abuse. If this is news to you, that’s because this measure has so far been little talked about. It was mentioned in HMRC’s report…

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Hurst expands tax team

Accounting and business advisory firm Hurst has expanded its tax advisory team with two senior appointments. It revealed Lindsey Egan and Liza Whiley have joined the firm from KPMG and Catax respectively as a senior tax manager and research and development specialist. The new roles have been created to meet…

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The impact of VAT on R&D tax relief claims — good and bad

A great deal of the money businesses spend in pursuit of Research & Development (R&D) will incur VAT. Though it’s not normally the case, accountants need to be alert to when VAT payments can be included in the qualifying costs of an R&D tax relief claim. This can have a…

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Capital Allowances are becoming more important to Corporation Tax planning

Marginal Relief and Small Profits Rates are back. In the penultimate Budget, the Government reintroduced them both and announced a return to the historic method of Corporation Tax calculation. These changes will come into force from 1st April 2023, but it is worth thinking about it now because Capital Allowances…

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Catax acquires Aim Proactive in deal worth up to £5m

Business tax relief specialist Catax has announced the acquisition of competitor Aim Proactive in a deal worth up to £5m. Aim Proactive was founded by managing director Steve Bailey and co-founder Julie Tilke in 2007, and focuses on helping businesses in all sectors make claims for R&D tax credits. Over…

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