MMP Philosophy of Tax Management

MMP Philosophy of Tax Management

1The importance of government technology tax incentives

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.

2The importance of companies and their tax

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.

3The importance of corporate tax management

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.

4Our philosophy of tax management

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 key principles of tax management that guide our interaction with both our clients and HMRC.

MMP's Philosophy of Tax Management

principles of tax management

Tax incentives are designed to help technology companies work in the UK

See our Principles of Tax Management Here