HMRC will join Henderson Loggie to explore the tax benefits of R&D tax credits and the Patent Box regime and discuss how protecting your innovation can provide you with an important commercial advantage and significant tax savings.
This event provides a great opportunity to hear directly from HMRC and pose questions to the specialist HMRC R&D Unit.
Dougy Agnew and Charlotte Stewart, from Henderson Loggie's Tax Team, will discuss both regimes from the perspective of the client, demonstrating the value of the reliefs and the opportunities available. For example, R&D can often be spread over many aspects of a business and it's not uncommon to find an Engineer, Web Developer or Managing Director that is more involved in R&D than a dedicated R&D team.
Introduced in 2000, R&D tax credits were designed to encourage greater R&D spending, however reports continue to show that SMEs are missing out on hundreds of millions of pounds by not claiming for new product research and development costs. Billy Agnew, HMRC, will cover the wider aspects of R&D claims, including recent changes to the system.
The Patent Box was introduced into UK tax legislation in April 2013. A promising move by the Government to encourage growth through innovation, it allows profits arising from qualifying patents to be taxed at a reduced rate of corporation tax. Nicola Gallagher from HMRC will discuss the Patent Box formula and why it’s important to start planning your application now.
The session will conclude with a panel question and answer session.
Speakers
- Introduction - Dougy Agnew, Henderson Loggie
- The Client Perspective - Charlotte Stewart, Henderson Loggie
- R&D - Billy Agnew, HMRC
- Patent Box - Nicola Gallagher, HMRC
- Summary and Q&A