A Deep Dive into R&D Tax Relief – The Basics, Recent Changes and Ongoing Concerns (Nov 23)
Category: Tax | Duration: 2hrs | Tag: VODEAMINI23S5&6 | Type: Video | Course Level: Need to Know | Speaker: Cathy Kennedy | Date: 16/11/2023 13:40
Course Details
This course offers an insight into R&D Tax Relief. The accuracy and robustness of R&D claims are increasingly more important due to the increased scrutiny from HMRC, with a significant number of enquiry letters being sent out to companies. This is a clear change of stance from HMRC in an attempt to suppress the level of fraudulent claims they believe are currently being submitted.
There have also been significant changes to the legislation post April 2023, and this course offers a chance to learn more about these changes (as well as a general introduction to the scheme as a whole), ensuring practices can signpost clients to be able to access the right advice. It also provides an opportunity to raise concerns/queries and potentially dispel some myths around R&D Tax Relief with special focus on claiming under the correct scheme and the interaction of R&D Tax Relief with grants.
The course covers some case studies of recent enquiries and the lessons learned along the way. Although R&D Tax Relief is now under significant pressure it is important to remember it remains a valuable relief if claimed correctly and this course covers off the types of evidence for a ‘robust’ claim and best practice when claiming R&D Tax Relief.
In this course Cathy Kennedy covers the following topics;
- Background to R&D/ What qualifies for R&D;
- Introduction to the 2 R&D Schemes and identifying which is relevant;
- Qualifying activities
- Qualifying Costs;
- Interaction with grants;
- Recent changes to R&D legislation;
- Learnings from HMRC enquires; and
- Best practice R&D claims
CPD Course Speaker
ASM Chartered Accountants
Cathy Kennedy
Cathy studied law at Queen’s followed by a Post-grad in Accounting at University of Ulster. Cathy is dual qualified, Chartered Accountant and Chartered Tax Advisor. Cathy joined ASM in 2013, initially working within the Forensics team before transferring to tax where she is now Associate Director and leads the Innovations Team focusing on R&D Tax Relief and Patent Box claims.
From joining the Tax Department in 2013, Cathy has worked across many areas of tax including personal, corporate, CGT, inheritance tax with a special focus on R&D Tax Relief and patent box in recent years. Cathy leads a team of two R&D Managers and works with a mixed group of trainee chartered accountants and tax advisors in providing a holistic approach to R&D and patent box for their clients, looking after not just the claim each year but reviewing existing processes and establishing best practice, providing regular training seminars to larger clients and ensuring each Company feels confident and well supported in their R&D journey with client engagement being one of the most important parts of the role as well as a critical focus on the legislative landscape for R&D.
Cathy also deals with HMRC on legislative queries and enquiries and enjoys working with clients to successful outcomes.
From joining the Tax Department in 2013, Cathy has worked across many areas of tax including personal, corporate, CGT, inheritance tax with a special focus on R&D Tax Relief and patent box in recent years. Cathy leads a team of two R&D Managers and works with a mixed group of trainee chartered accountants and tax advisors in providing a holistic approach to R&D and patent box for their clients, looking after not just the claim each year but reviewing existing processes and establishing best practice, providing regular training seminars to larger clients and ensuring each Company feels confident and well supported in their R&D journey with client engagement being one of the most important parts of the role as well as a critical focus on the legislative landscape for R&D.
Cathy also deals with HMRC on legislative queries and enquiries and enjoys working with clients to successful outcomes.