Hawai?i Department of Taxation - Ka ?Oihana ?Auhau的动态

?? Important R&D Tax Relief Update: Advanced Notification Deadline Approaching! ?? For all my clients and fellow accountants, please be aware of a key change regarding HMRC’s Advanced Notification requirement for R&D tax relief claims. If you intend to claim R&D tax relief, you may now be required to provide advanced notice to HMRC. With deadlines fast approaching, we wanted to ensure that you're aware of this new obligation to avoid missing out on valuable tax relief. Here's a quick breakdown of the key points: ?? Who Needs to Submit Advanced Notification? First-time R&D claimants for accounting periods starting on or after 1 April 2023 and companies that haven’t made a claim in the past three years. ?? Important Dates to Remember: Your claim notification window starts from the first day of your accounting period and ends six months after the period ends. For example, if your period ends on 31 March 2026, your window closes on 30 September 2026. ?? Exemptions: If you made a claim within the last three years, you might be exempt from the notification requirement. But be careful! Claims made through amended returns can impact your timing. ?? Additional Information Form: Don’t forget! Regardless of advanced notification, the Additional Information form is still required when filing your claim. ?? Need Help? Not sure if you’re exempt or need clarification? Reach out! We’re here to ensure all your claims are filed accurately and on time. Let’s make sure this admin change doesn’t cost your business the relief it deserves! #AccountantAdvice #RDTaxRelief #HMRCUpdate #TaxDeadline #AdvancedNotification #TaxPlanning

We just published a new blog post about the June 2024 Individual Due Dates, learn more from your friends at Rivera Virtual Accounting & Tax, LLC. Just click below.

If you're interested in finding out more about the tax-filing deadline for 2023 tax returns, check out this great new blog post from the Smyrna-based Wattay Accounting. Just click below.

Is a comprehensive tax reform the solution to the looming shortage of qualified tax advisers? Learn more here.

Is a comprehensive tax reform the solution to the looming shortage of qualified tax advisers? Learn more here.

Is a comprehensive tax reform the solution to the looming shortage of qualified tax advisers? Learn more here.

Is there really a problem with this? After all it is always good to be aware of our own limitations, and not be afriad to ask for help if we do not understand something. Support and in some cases, education, is important for those in responsible positions. Well done looking for help in doing the right thing on taxes, they can be complex to understand, and it is so important to get them right. Money well spent if that help offers important insights that we amy all benefit from, I say. #taxation #help #support

Following confirmation of the end of the consultation into the UK R&D reliefs reform in the Autumn Statement 2023, today’s Spring Budget made little reference of R&D tax relief instead focusing on more details surrounding the previously announced investment funding. This is welcome relief to businesses and advisors who have had a raft of changes to navigate recently in regards to R&D tax relief. ? The Spring Budget makes reference to an R&D ‘expert advisory panel’ being established. The panel will provide insights into the cutting-edge R&D occurring across key sectors such as tech and life sciences, and work with HMRC to review relevant guidance, ensuring it remains up to date and provides clarity to claimants. No further details on the panel have been shared yet but the aim is to enable HMRC to keep their guidance applicable and relevant for claimants, such as updating examples as and when technology advances.? HMRC has also today (6 March 2024) launched a consultation that is open until 29 May 2024 into raising standards in the tax advice market through a strengthened regulatory framework. The consultation specifically makes reference to continued issues with substandard and unscrupulous tax advice including some specialist R&D agents. It sets out the 3 possible approaches to strengthening the framework: mandatory membership of a recognised professional body, joint HM Revenue and Customs (HMRC) – industry enforcement, and regulation by a separate statutory government body. The consultation also explores approaches to strengthen the controls on access to HMRC’s services for tax practitioners. #Budget2024 #SpringBudget2024 #researchanddevelopment #tax

Is a comprehensive tax reform the solution to the looming shortage of qualified tax advisers? Learn more here.

Is a comprehensive tax reform the solution to the looming shortage of qualified tax advisers? Learn more here.