Can pharmaceutical companies claim R&D Tax Credits?
Yes — pharmaceutical companies developing new drugs or processes can claim R&D Tax Credits. The SME and RDEC schemes merged in April 2024, so specialist advice is recommended.
What tax reliefs are available to UK technology companies?
Tech companies can access R&D Tax Credits, Patent Box relief (10% CT rate on patent profits), capital allowances, and SEIS/EIS investment schemes.
How does the VAT second-hand margin scheme work for car dealers?
The margin scheme charges VAT only on the profit margin of used vehicles bought without VAT (e.g. from private sellers), avoiding double taxation. Full records per vehicle are required.
Are demonstrator vehicles subject to benefit-in-kind tax?
Yes — demo vehicles available for private use are subject to BIK tax based on list price and CO2 emissions, though a reduction applies where private use is genuinely restricted.
How is share option taxation handled for technology startups?
EMI share options are the most tax-efficient route for tech startups — no Income Tax on grant, and CGT at 10% (BADR rate) on sale, subject to HMRC approval and qualifying conditions.
What are the main tax issues for motor trade businesses?
Key issues include VAT (including the second-hand margin scheme), benefit-in-kind on demo vehicles, capital allowances on equipment, and payroll taxes for staff.
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