Tania Harman CA’s Post

Unlocking Innovation: A Guide to Research and Development Tax Credits in the UK

In a post-pillar II world, the question remains - how should the additional net tax revenues generated by the minimum tax be invested? The Canton Zug has published its consultation draft of the "Location Development Act," offering insight into how Zug intends to tackle this issue. The draft proposes investing in subsidies, with more details available in our blog. Check it out!

New report from London Economics - https://lnkd.in/eG6tmMaZ - highlights how the reduction in R&D tax relief for SMEs, coupled with increased relief for larger companies, risks stifling innovation in sectors where smaller firms play a crucial role. The report calls for a more nuanced, sector-specific approach to evaluating and implementing R&D tax relief which aligns with the need for fundamental changes to better support UK SMEs and foster genuine innovation across all sectors.

On Budget Day 2024, the plans for the coming year were announced. We list the most important (tax) proposals aimed at businesses, both national and international, and trade. What might change for you?

Singapore To Revise Fund Tax Incentive Schemes In 2025: The Monetary Authority of Singapore is set to refine three fund tax incentive schemes from January 2025 as part of the move to enhance the fund sector.

📈 Power Up Your R&D in Ireland: Maximise the Impact of the Tax Credit Calling all Irish companies & entrepreneurs! The R&D tax credit offers substantial tax savings (up to 30% as of 2024!) to fuel your innovation efforts. Our blog post dives deep into the program, its benefits, and how to claim it effectively. Read the full post on our website 👉 https://bit.ly/3y8POPI

📌Starting January 1, 2026, Estonia will introduce a corporate income tax (CIT) on profits, set at 2%. This initiative is part of a comprehensive broad-based defense tax strategy by the government. Initially, this tax measure is designed to be temporary, covering the period from 2026 to 2028. While specific calculation details are still under discussion, here’s what we know: - CIT will be due in 2026 as an advance payment based on 2025 profits, with adjustments made following the release of 2026 annual accounts. - As from 2027, businesses will be required to make quarterly CIT payments based on the profits declared in the previous year's annual accounts. With the government’s plan in place, we shall see how the details roll out over the course of a few months. #Estonia #corporatetax #defensetax

R&D! 👨💻 From 1st April 2024, the government has put in place a new 'merged' R&D tax relief scheme. This is intended to simplify the R&D tax incentive scheme process by introducing a combination of the existing enhanced tax relief and payable credits for SMEs and the R&D expenditure credit (RDEC) for larger businesses. The aim of the new scheme is to provide simplification, consistency and to protect the scheme from abusive claims. For those who have previously claimed under the SME scheme this represents a considerable change so there is plenty for businesses to consider and plan for in respect of their R&D claims, and claims are likely to fall under more scrutiny than ever before. A few questions come to mind; - How does the new scheme work? - How does it differ from the existing scheme? - How do I make a claim? I have answered those questions in my article below. #ETCTax #Researchanddevelopment #UKTax #Business https://lnkd.in/evxQ7jh2

🚀 Unlock Innovation with Australia's R&D Tax Incentive! Australia offers substantial support for R&D through tax incentives, designed to drive innovation and boost economic growth. Key benefits include: - Refundable Tax Offset: 43.5% for SMEs under $20M turnover. - Non-Refundable Tax Offset: 38.5% for larger companies. Eligibility requires registration, detailed record-keeping, and compliance with AusIndustry and ATO guidelines. Explore how these incentives can enhance your business's innovation and global competitiveness. 🔗 Read more below... #RandD #TaxIncentives #Innovation #BusinessGrowth #Accounting #Taxation

In an interview with RTE Paraic Burke highlights the urgent need to simplify the tax system to make Ireland a more attractive place to do business. With complex tax forms and costly relief claims, small companies are often left at a disadvantage. Learn how Ireland can lead the global movement for tax simplification, reduce red tape, and create a more efficient business environment. #Budget2025