Is your firm prepared for the April 2023 changes?

April 2023 will see significant updates to the UK Research & Development (R&D) tax relief scheme, as HMRC aims to clamp down on rogue claimants and improve compliance. No one will feel these changes more acutely than accountants - it will impact not only what your clients can claim for but also how the claim is processed.

To ensure you're up-to-date with the ever-evolving landscape, we've developed a free downloadable guide exclusively for our followers, which provides all the latest information about the upcoming changes.

Simply provide your details to view our free guide.

CONTACT DETAILS

What does the guide include?

Overview of why the scheme is changing

How this will impact you and your clients

The latest costs which will now be included/excluded from claims

ABOUT CATAX

At Catax, we are experts in specialist areas of tax relief. With over 13 years' experience, we have helped over 15,000 have identified over a quarter of a billion pounds in tax benefits for our clients to date.

Our in-house team consists of industry and technical experts, so you can be assured we know exactly what does and doesn't qualify for a successful claim, no matter how niche the market or sector.

We are trusted partners with many of the UK's top accountants and solicitors, as well many leading industry bodies including the IFA and The Law Society.

OUR PARTNER PROGRAMME

At Catax, we understand the information around grant funding and specialist tax relief can sometimes be overwhelming. That's why we have created our Partner Programme specifically designed for accountants.

We provide a flexible partnership model which reflects the changing nature of the professional services world. In addition, we work with partners to build a bespoke approach which ranges from an occasional referral to a full-blown business outsource or provision of a managed service. This can include marketing, technical and operational support to deliver an excellent client experience. Our business model is based on B2B networks and partnerships and focuses on a defined range of specialist services.

All our fees are contingency-based, with fees only applicable when the client's claim is successful.

Case study: Construction

Client benefit

£415,848.86

Areas of R&D

Ongoing development of bespoke fixing and framing systems to achieve architectural intent and to accommodate building movements.

Prototype mock ups designed and developed, specifically the development of 3D software.

Sample testing of cleaning techniques.

Development of an innovative stone cladding carrier frames, specifically to test stone for impact resistance and suitability.

R&D Costs

Raw Expenditure (Identified Project Costs) – £2,056,538.73

Type of Benefit – Repayment & Losses

Client Benefit – £415,848.86

Effective Rate of Benefit (%) – 18.95

Case study: Information Technology Service

Client benefit

£274,573.21

Areas of R&D

Auto Cab Booking System.

Bespoke IT System.

Back Office Integration.

Development of Oyster Card Type Payment

Bespoke In Vehicle Terminal

R&D Costs

Raw Expenditure (Identified Project Costs) – £1,071,046.39

Type of Benefit – Repayment

Client Benefit – £274,573.21

Effective Rate of Benefit (%) – 25.64

Case study: Car Hire Services

Client benefit

£15,360.89

Areas of R&D

Sophisticated IT platform for business process management – The company sought an advance in technology through the design and development of a sophisticated software suite.

R&D Costs

Raw Expenditure (Identified Project Costs) – £81,177.50

Type of Benefit – Tax Credit

Client Benefit – £15,360.89

Effective Rate of Benefit (%) – 19.05

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