Tax inspectors will next week take part in the first training course to
improve their understanding of software for firms applying for research and
development (R&D) tax credits.
The credit scheme allows firms with programmes worth more than £10,000 to
deduct 150 per cent of that expenditure when calculating annual profits.
But software development can be less tangible than in other sectors, leading
Courses focusing on the IT industry will help address the imbalance, said Tom
Wills-Sandford of supplier body Intellect.
‘There have been stories of claims being turned down for peculiar reasons –
because software is invisible,’ he said.
Drastically fewer offices for HMRC in the hope to reduce their running costs
An 80% increase in additional revenue for HMRC coincides with a crackdown on income tax avoidance
Laurence Field, the head of tax at national audit, tax and advisory firm Crowe Clark Whitehill outlines the 6 'unexpected items' regarding HMRC's Making Tax Digital plans
Companies must report on their complex financial structures including offshore accounts and notify HMRC