Insights & News Archive

Response to the EU referendum 2016

Our message for our tech business clients following the EU Referendum

The world woke up last week to find that the UK had voted to leave the EU. This was a result that many people were not expecting. Against this backdrop, there is uncertainty and political unrest across the UK and much commentary across the EU and the globe. All of which is not necessarily good for business.

Tax incentives are very much a part of the developed world's tax landscape. These are not EU directives and as such are not impacted by the UK's status in the EU. Indeed, Australia, the US and Canada introduced tax incentives for research and development long before the UK

The process for exiting the EU will take a number of years and nothing is likely to change overnight and we do not believe that the decision to leave the EU will bring an immediate change to the tax incentive policy or the government tax roadmap

28 June 2016

MMP Budget commentary 2016

Was today's Budget an entrepreneur's dream?

MMP Tax sounds a note of caution following the Chancellor's Summer Budget, as disappointed SMEs, that form the cornerstone of innovation in the UK, see their incentives eroded by the announced changes.

Entrepreneurs will have found plenty to be happy about in today's Budget. The reduction of the Corporation Tax rate to 17% is one silver lining, and decreasing business property rates throughout England is another.

It is, however, important that small companies understand some of the less obvious consequences of these changes.

16 March 2016

MMP & TIGA Publish free guide

Free Tax Guide to download from the TIGA or MMP websites

Working in collaboration with TIGA, (The Independent Game Developers' Association) representing the games industry; MMP, winner of best tax firm, is pleased to announce the publication of their free Guide to R&D Tax Relief for Video Games Developers'

MMP Tax continues to work with TIGA, helping members to claim tax incentives through the R&D and Video Games Tax Relief (VGTR) schemes. If you require any further information visit our Video Games Tax Relief website, or wish to discuss any aspects of claiming with one of our tax specialists, we would be pleased to hear from you

08 February 2016

MMP Tax is announced the Winner as Best Tax Team

TIGA announces MMP Tax as category winner for "best tax firm" assisting members in claiming Video Game and R&D Tax Relief

MMP Tax was announced as the winner for "best tax firm" at the glittering TIGA awards ceremony held at LSO St. Luke's Old Street in London on 12 November 2015. The awards celebrate the best in creativity, innovation and business in the UK games industry.

The award for best tax team recognises excellence in tax work, sound business processes and outstanding commercial results for the gaming industry companies.

13 November 2015

MMP Tax finalist for TIGA Games Industry award

MMP Tax the specialist technology tax advisor; has been short-listed by TIGA, the trade body for the Video Games development community, for their award for best tax advice firm.

MMP, the specialist technology tax consultant, works with development studios, to ensure that their members gain maximum value from the schemes. MMP’s experience in assisting with the submission of eligible games to the British Film Institute’s cultural test, coupled with their long standing experience of working with HMRC on technology tax reliefs, enables quick and straightforward approval of clients’ VGTR claims

11 October 2015

MMP Tax & TIGA comment on decrease in VGTR benefit

After many years of campaigning; TIGA and MMP are proud of the positive impact the video Game Tax Relief (VGTR) has had on UK Game industry and the role we've played in its introduction.

Since its initiation in 2014, the VGTR scheme has been supporting loss making games studios with a 25% credit and profit making studios with a tax relief net benefit of 18.4%. In a recent TIGA survey, UK studios were hopeful that the generosity of the incentives would increase even further.

In the recent Summer Budget the Government has now decreased the tax relief generosity from 18.4% to 14.4%.

23 August 2015

MMP Tax Ltd - Response to the Summer 2015 Budget

Disappointment for tech businesses as Chancellor erodes R&D Tax incentives for SMEs. Universities and Charities are denied access. Video Games tax relief also takes a dive

MMP Tax sounds a note of caution following the Chancellor's Summer Budget, as disappointed SMEs, that form the cornerstone of innovation in the UK, see their incentives eroded by the announced changes

Technology Tax Relief schemes are seen as a crucial part of the overall plan to underpin technology and innovation in the UK; R&D Tax Credit claimants received £1.4 billion of support last year

To support the Government's objective of a more competitive UK corporation tax system, the Chancellor announced a reduction in the main rate of corporation tax from 20% to 19% for the year beginning 1 April 2017; with a further reduction from 19% to 18% for the year beginning 1 April 2020. This planned reduction in the main rate of corporation tax will impact technology tax reliefs in different ways

17 July 2015

Response to the 2015 Budget

MMP Tax applauds the Chancellor's announcements in yesterday's budget to continue to support and enhance the range of technology tax incentives originally introduced in 2000, and improved and expanded on since.

Technology Tax Relief schemes are a cross-party governmental success story, last year the number of claims for R&D Tax Relief increased by 16.5% on the previous year and accounted for £1.4 billion of support in R&D. Much of this was claimed by the UK's important SME community.

From 1 April 2015, (Finance Bill 2015); the government will increase the super deduction rate of the R&D Tax Relief SME scheme from 225% to 230% demonstrating that the government wants to ensure that R&D tax credits remain effective in helping small technology businesses to grow.

19 March 2015