Latest News

Inspired Corporate Advisory appoints new Director, Ruairi Dougal

Inspired Corporate Advisory has appointed a new Director to its expanding team. The company has taken on Ruairi Dougal as Director, Head of Corporate Finance. The appointment signifies a new area of growth for Inspired, with the introduction of Inspired Corporate Finance, which Ruairi will lead. Deal activity is expected to remain strong in 2022 […]

Inspired Corporate Advisory appoints new Director, Michael Heinicke

Inspired Corporate Advisory is pleased to announce the appointment of Michael Heinicke as Director. The appointment reflects the significant and continued growth experienced by Inspired Corporate Advisory over the past twelve months. Prior to joining Inspired Corporate Advisory, Michael spent 18 years in PwC across Manchester and Belfast and was most recently a Tax Director […]

HMRC R&D Tax Relief Reform: Q&A with Inspired Managing Director, Eugene O’Neill

In recent weeks HMRC has published details of changes to the UK R&D tax relief schemes. These changes come on the back of the public consultation carried out earlier in 2021 and are anticipated to come into effect in April 2023 once legislation has been drafted and published. To reflect on the announcements made, we’ve […]

Autumn Budget 2021 – What does it mean for UK Tax Incentives?

On 27 October 2021, the Chancellor unveiled a reasonably quiet budget for UK Tax Incentives, compared to some of the significant changes that were announced in March of this year. However, there have been a couple of noteworthy announcements that will have an impact on UK Tax Incentives: Capital Allowances The Annual Investment Allowance of […]

The average Patent Box claim is worth 10 times the average R&D claim

The latest statistics show the average Patent Box claim is worth 10 times the average R&D claim. So, why are only 1.6% of R&D claimants filing Patent Box claims? HMRC’s latest Patent Box statistics show projected claims of 1,370 for the tax year to March 2020. This contrasts to R&D claims for the same period […]

R&D claims at an all-time high (per latest HMRC statistics) BUT…

HMRC recently published Research and Development (R&D) tax credit statistics in relation to the year ending March 2020. The latest statistics show total claims of 85,900 (an increase of 16% on the prior year) and a total value of support of £7.4bn (an increase of 19%). However, whilst this appears encouraging for R&D claimants it […]

Claims for grant funded R&D projects

Many companies do not pursue R&D tax relief claims as they are under the impression that the government grants, they have received, prevent them from doing so.

Claims for failed/ unsuccessful R&D projects

One of the common misconceptions seen across all industries is the idea that R&D tax relief can only be claimed where a project has completed or where an end result was achieved successfully.

Impact of Coronavirus Business Interruption Loan Scheme (CBILS) & Bounce Back Loan Scheme on R&D claims

Shortly after the government’s 2020 Spring budget was announced, CBILS was introduced as a form of government funding to help businesses through the effects of social distancing.