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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Tax Tips for Christmas

Tax tips for christmas

It’s the time of year when business owners are considering their plans for Christmas activities, and rewards for staff, customers and suppliers. Here follows a reminder of some of the tax implications: Christmas Bonus for Staff This will count as ordinary earnings and be subject to tax and NI as if it were additional salary. Vouchers given will also be taxable. Client Entertaining Hospitality of any kind is not an allowable deduction and VAT cannot be recovered on it, (except entertaining foreign customers in some circ...

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Winchester Quiz Successes

Winchester quiz successes

The finest brains the office could muster, travelled to the Wellington Arms to take part in a Charity Fundraising Quiz organised by Holden Jones Recruitment. To their own amazement they managed to win a closely fought contest and won £100 for Naomi House, their nominated charity, which Holden Jones then generously doubled to £200. Flushed with success the office team then entered Naomi House’s own Music Quiz at the Winchester Holiday Inn and completed the double by winning there too, bringing back the trophy and having...

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Rothmans Supports Youth Football

Rothmans supports youth football

Rothmans Winchester is proud to support the Colden Common Youth Football Club – U10 Rovers for the third season. The club play in the Eastleigh & District Mini Soccer League. This season Rothmans have supplied smart training jackets for the team and continue to sponsor the main kit. Good luck for the season! Sue Sullivan Partner Winchester

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