InnoFund

Our Manchester office is delighted to welcome our new client success manager Madeleine Hill! Maddi comes from a material sciences background 👩🔬and is excited to help clients through our IP consulting and innovation incentives 📈 Great to celebrate with a game of bowling unfortunately our boss Adam couldn’t handle defeat to the good Dr Jack and Oskar 😅😂 #bowling #friyay #team #newrecruit

Great meeting existing clients and new businesses who have recently partnered with InnoFund 🤝 at the #farminginnovation show at the NEC. 👀we will be announcing the #chatity raffle winner on this page on the 30th of Novemeber. #clients #patentlandscaping #Research #grants #hmrcdisputes #charity #tax

We are at the NEC for the next two days if you’d like to pop round for a chat we are behind Close Brothers. John will be hosting the raffle and we will announce our winner on the 30th of November.

We're #hiring a new Accounts Manager in Manchester Area, United Kingdom. Apply today or share this post with your network.

Ardy convinced us that to better understand his aquaculture clients he needed to “dive in”. John McCabe told us “quad-bikes” were essential research for his automotive clients and Oskar and Richie reassured us that drinking local spirits helps them to understand our beverage manufacturing clients better. Here at InnoFund we take extra curricular development seriously, which is why we prioritised these activities as part of annual trip away to 🇹🇷 Interested in being a part of our next trip? contact Simba or Adam for a confidential chat about the opportunities open at InnoFund #worksdoo #proffesionaldevelopment #euros2024

2024 seems to be already flying having landed in Feb already, but probably not as fast as the changes to the UK R&D tax regime! In true tax professional spirit, on the other hand, January disease says otherwise😣 so it all depends on your view and how leaky your bank account and credit card got in Dec 😰 ! If there is ever 'small print' in law, this might be it so thank me later for at least mentioning it to my network, to those who may not be aware: If you are going to make an R&D claim for accounting periods beginning on or after 1 April 2023 and you have claimed R&D tax relief in the prior 3 years, only through an amendment to your corporation tax return, you will need to submit an Advance Notification form to HMRC 6 months after the end of the relevant accounting period in order to then make a valid claim, avoiding its rejection by 'hawkeyed HMRC'. The same is the case if the company is a new claimant. In summary the 'reward' for being historically claiming early and submitting your R&D claim in the company's first filed tax return is, the company will always be in a position where it can buy an extra 1 year and 6 months following the year end to make at least 1 amended R&D claim. Everyone else literally has 6 months from the end of their accounting period to identify the basic facts around their claim. Again, this affects accounting periods beginning on or after 1 April 2023. Please do not get caught out by this and keep some near real-time record of what you plan to do as R&D and more importantly what you have done! If you are feeling a bit clueless or out of your depth, please chat with trusted advisor, but make sure you check their credentials and track record before engaging! Is it too late to say Happy New 🤣 #InnoFund3Phase(c) #RnDchanges #AdvanceNotifcation #taxrelief #lovemyjob

The ICAEW has published a very insightful and eye catching snapshot of all the changes to the R&D tax relief scheme making 'reinventing the wheel' pointless. Its highly recommended to pay the webpage a visit! The exception is a late amendment to prevent 2 or more companies claiming on the same project under the 'new rules' and old rules when the accounting periods beginning on or after 1 April 2024 currently contained in Finance Bill 2024. This is because projects have their own timeline not necessary falling neatly into periods of account and those straddling 1 April 2024 need transitional rules. Some argue this is an indication that the legislation to further change the R&D landscape has been rushed and should be delayed till 1 April 2025. Evidencing who is entitled to the new relief has retrospectively been a standard part of Innofund's 3 Phase Process which our client base all access as a free service. Companies entitled to the new relief take precedence over other potential claimants if said company could have claimed under the old relief where the question arises of which company can claim for the same project. What is the R&D project for each company, if it exists? How can all this be evidenced? Who is the decision maker? What is an already complicated process can start to get extremely tricky if the wrong foot is put forward. Whoever you are, best to speak to a trusted advisor with a good understanding of the R&D scheme and its intricacies (both old and new!). https://lnkd.in/eK4neW2u