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Patent Box Introduced

Patent box introduced

The Patent Box regime has been introduced with effect from April 2013 to encourage innovation by enabling companies which derive profits from patented technologies to elect to be taxed at a rate of 10%. Companies that own or have a licence over patents granted by the UK Intellectual Property Office or the European Patent Office can elect to apply the scheme which then enables worldwide patent profit arising from the UK/European patents to be taxed at an effective rate of 10%. The Patent Box relief is given by including an additional deducti...

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Pensions Auto-enrolment Business Seminar

Pensions auto-enrolment business seminar

Last month Rothmans held a successful seminar on auto-enrolment, one of the biggest changes in pension regulation in the last hundred years. Held at the Rhinefield House Hotel it gave employers a better understanding on their auto-enrolment obligations and provided advice on how to create a successful auto-enrolment strategy. Keynote speakers were David Yeandle, one of three experts appointed by the Government to undertake an independent review of automatic enrolment as part of its pensions reform programme and Paul Stovold representing the N...

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Rothmans Power In Numbers 14

Power In Numbers 14

Power In Numbers issue 14 is now out and avalible to download HERE Martin Osborne Senior Partner Segensworth

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Research and Development Relief

Research and Development

Check with us to see if you qualify Research and Development (R&D) Relief is a corporation tax relief that can reduce the company's tax bill or, in certain circumstances, generate a loss which may be surrendered in exchange for a refundable tax credit. There are two schemes available with differing rates of relief, depending on the size of your business: The Small & Medium-sized Enterprise (SME) Scheme Under the SME scheme the tax relief on qualifying R&D expenditure is currently 225%, so, for every £100 spent ..

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RTI News

RTI- Latest news

Some users of The Real Time Information (RTI) scheme for PAYE have experienced difficulties with certain aspects since its introduction in April 2013. HMRC have recently made announcements that should assist: Relaxation on reporting rules For businesses with fewer than 50 employees, the temporary relaxation of new reporting rules has been extended from October 2013 until April 2014. Businesses are still required to report using RTI, but are able to do so once a month, rather than each time they pay their employees. Where w...

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RTI challenge hits businesses

Statutory residence test

From 6 April 2013 the rules that determine whether an individual is resident in the UK for tax purposes have changed. These rules are known as the Statutory Residence Test (SRT). For the majority of individuals determining whether or not they are resident in the UK for tax purposes is quite straightforward and under the new test their position will not change. However, for those with complex circumstances the SRT will provide more certainty about their residence status. HMRC have issued a pilot online ‘Tax Residence Indica...

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