Capital allowances: the tax relief hiding in your fixed asset register
Capital allowances convert capital spending into tax relief. Which pools things fall into, what gets missed, and why the asset register decides the answer.
Research and development tax relief is won or lost on contemporaneous records. What counts as qualifying work, what to document as you go, and who decides.
Research and development tax relief reduces a company’s tax bill, or pays cash, for work that sought to resolve a genuine scientific or technological uncertainty. Most rejected claims are not rejected because the work was ineligible. They are rejected because nobody wrote down, at the time, what the uncertainty was and how it was tackled — and a narrative reconstructed two years later from memory and invoices reads exactly like a narrative reconstructed two years later.
The rules, rates and definitions differ substantially between jurisdictions and change often — the UK regime has been rewritten repeatedly, and the US credit works on an entirely different basis. Nothing here is tax advice. What is consistent across regimes is the evidential expectation: contemporaneous records of the uncertainty, the work and the cost apportionment.
Ettex Records holds one record per project with the uncertainty, the dated notes, the people involved and the cost categories — which turns claim preparation into an export rather than an investigation. The point is that the notes exist with dates on them before anyone thinks about a claim; a record created in the claim window is worth little regardless of what it says. Keep the cost tagging in the ledger via the chart of accounts rather than in a parallel spreadsheet. Ettex does not prepare or file claims, does not calculate relief and gives no tax advice — use an accountant or a specialist, and be wary of anyone charging a percentage who does not want to speak to your engineers.
Yes, and it is some of the strongest evidence you can have. Work that failed to resolve the uncertainty demonstrates that the uncertainty was real, which is precisely the test. Deleting failed branches is the wrong instinct.
Someone technically competent in the field, from inside the company, with an adviser shaping the format. A narrative written entirely by a non-technical adviser tends to describe the product rather than the uncertainty, and that is visible.
At least as long as the enquiry window for the relevant tax year, which is typically several years and longer where an enquiry opens. Keep the project notes with the accounting records rather than in a project tool that may be decommissioned.
Capital allowances convert capital spending into tax relief. Which pools things fall into, what gets missed, and why the asset register decides the answer.
A double materiality assessment asks what sustainability topics affect the business and what the business affects. How to run one that produces a defensible list.
Data quality has dimensions you can measure — completeness, validity, consistency, timeliness. How to set rules, report them, and fix causes rather than records.