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Is your business under threat from Cyber Crime?

The annual conference of the North East Fraud Forum focused on the issue of Cyber Crime in the region, with several reoccurring themes presented by IT experts and police officers: Cyber Crime is global and is on the increase in the North … [Read More...]

Pacman

Video Games Tax Relief v R&D Tax Relief for SMEs

Some video games companies are in the enviable position of being able to choose between claiming Video Games Tax Relief (VGTR) or R&D tax relief – both of which can generate loss making companies a cash tax credit. For one client we recently worked with, we were able to claim both in one period on different games, after calculating on a project by project basis which would give the best result. This client benefitted from cash VGTR credits amounting to £70k, and an R&D tax credit of £59k! R&D tax relief v Video Games tax relief It’s possible that the development of a video game could incorporate activities which would qualify for both R&D and VGTR; however legislation prevents a company from claiming both reliefs on the same “project”. It is therefore important to consider which relief would give the best result for the company. Unfortunately, the answer isn’t always obvious. On the face of things, it would seem that R&D tax relief would give the … [Read More...]

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Let’s Grow fund – the next round

The fourth round of the regional “Let’s Grow” fund will shortly be coming to a close.  The deadline for ‘expressions of interest’ is Friday 24th April, with the deadline for full applications being the 22nd May. The scheme offers grants of between £50,000 to £1m on projects with spend of £200,000 or more and the best tips we can offer anyone considering an application are: Get advice from your accountants and consult with BE Group throughout the process to increase your chance of your bid being acceptable. Make sure you meet State Aid requirements (check out ukassistedareasmap.com) for guidance, or speak to an adviser. Make sure you create or safeguard sustainable jobs without causing loss of jobs elsewhere in the UK. Large companies can only apply for new activities, which is a change to the previous rules. Have a watertight argument to support the need for grant assistance. The icing on the cake for the judging committee would be if the grant supported innovation, … [Read More...]

Community Amateur Sports Clubs- And they’re off!

On Friday 27th March 2015, HMRC finally released the long anticipated CASC guidance notes, found at the link below, in relation to the new rules which will officially come into action on 1st April 2015. https://www.gov.uk/government/publications/community-amateur-sports-clubs-detailed-guidance-notes/community-amateur-sports-clubs-detailed-guidance-notes The guidance notes were as expected with some helpful examples included to demonstrate ways in which current registered CASCs could adapt certain aspects of their club in order to remain compliant with the new requirements. For example, the guidance provides detailed examples of ways which golf clubs could adapt their membership fees in order to enable those golf clubs with fees higher than the new £520 annual limit to remain a CASC. The guidance also sets out methods which HMRC would find acceptable as methods for CASCs to keep records of their members who “participate” in the sport, to assist those clubs with … [Read More...]

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