Following the chancellor’s autumn statement 2022, which included details of increased public funding for R&D, BHETA hosted a webinar in February to help its members to discover if and how they can qualify for tax breaks.
A key output of the webinar was how widely this under-publicised opportunity can apply and therefore how many supplier companies should at least investigate their eligibility.
Speakers at the event were Duncan Kelly and Adem Zia from Europe’s leading R&D tax specialist, Ayming. During the session Ayming discussed the qualifying criteria and how claims can be maximised once the new legislation comes into force in April 2023. The topics covered included the upcoming changes, details of the different schemes, key considerations for claiming, examples of R&D in manufacturing relevant to BHETA members, and a Q&A.
Ayming has 30 years’ experience with a global team of experts working across 15 countries. It supports around 20,000 R&D and innovation projects worldwide each year and generates around €1bn in funding for clients. As a member of the Chartered Institute of Taxation, Ayming works within the requirements of regulation and compliance standards. It also adheres to PCRT (Professional Conduct in Relation to Taxation).
BHETA marketing director, Steve Richardson, commented: “Changes are due to take effect for expenditure on or after 1 April 2023. This gives companies relatively little time to anticipate the plan for the new scenario. It’s therefore going to be a great help – particularly to some SME businesses – to have leading experts to consult, courtesy of BHETA.”