The following philosophy informs and guides our approach to working with our clients and HMRC.
Technology-focused industries are likely to be the driver of our future economic growth. These industries will be based on research, scientific knowledge, a skilled workforce and advanced manufacturing capabilities. The UK's competitive position as a venue for world-class research and innovation to create these industries is helped to grow through tangible tax incentives. So government support through technology tax incentives for R&D and patent commercialisation is strongly encouraged by government when claimed correctly.
Business taxes paid by companies, such as corporation tax, business rates, employers' NICs, duties and tariffs, annually represent at least a quarter of the total national tax take.
In fact, businesses are responsible for the lion's share of the government's revenue when income tax from wages paid by businesses is taken into consideration
Companies are encouraged to take full advantage of technology tax incentives as a fundamental part of their business activities.
Many companies achieve this by using external experts such as MMP to explain the rules and identify how to claim legitimate reliefs.
Our philosophy is to help our clients articulate and optimise their technology tax strategy. We encourage thorough assessments, and clear documentation, coupled with a transparent open dialogue with HMRC to ensure claims are properly structured and prepared for HMRC's assessment.
We put this philosophy into practice with our values that guide our interaction with both our clients and HMRC.
"Tax incentives are designed to help technology companies work in the UK"