VIRTUAL MEMBER FOCUS SESSION SUPPORT FOR INNOVATION WITH LUMO TAX

Date: 21st May 2025

Time: 2pm - 3pm

Platform: TEAMS 

Fee: Free to All

BGA encourages all members, especially those eager to maximise the tax relief from R&D activities to join this session.

About the Session

This session will be presented by Graeme Watson and Roger Tipple from Lumo.TAX.

In this session we will share a brief overview of how, with appropriate planning and preparation, tax relief schemes that are currently available can support innovation projects, offering steppingstones to de-risk them and even tax breaks on successful innovations. We will look at who can claim such reliefs, including as sub-contractors ‘doing the day job’ on other businesses’ R&D projects. We will then take a closer look at how the landscape in this area is changing (including HMRC’s enquiries) and how Lumo differ from other companies in this space, focusing more on how we can assist throughout the innovation process and support the outcome rather than just documenting it retrospectively, and how this can make a sizable difference to projects’ overall costs and value to the business .

The session promises to enhance your understanding of several different relief options and introduce new perspectives and opportunities. Both Roger and Myself will attempt to de mystify some of the preconceptions within this area of tax relief and when done correctly the outcomes for the business far outweigh the monetary relief of the claim.

Benefits to members: Having worked closely within the sector for many years we have a rare understanding of the industry and how it can be successfully applied to several different schemes. As technical people, not accountants (though we have them among Lumo), we are probably closer to understanding your technologies than most. As a demonstration of our commitment to this sector we will be happy to provide a free 1 to 1 session with any business who want to take a closer look at how this could benefit them.

Graeme and Roger will show a short video along with a some more details around the relief options and how Lumo can work with you in many different ways around this subject area.

Session will include:

• Understand Research & Development and the importance of project planning with this in mind.

• Let’s flip the script and look at this in a different way: PDP the Lumo Way

• Understand your position (I already have this covered! Or do you?)

• How to prepare yourself to fight any enquiry

We look forward to seeing you there.

If you would like to register for any of our essential gear training offline please contact the BGA office admin@bga.org.uk

If you are not a BGA Member please click here for information of joining the association.