Jeannette Hume (Kings Lynn)

Jeannette Hume is a senior tax manager at Whiting & Partners. She has 20 years of experience in business tax, having previously worked for Deloitte and PEM in Cambridge. Her specialisms include farming, property and technology, having advised clients on R&D relief since its inception in April 2000. Due to the international nature of her technology clients she has a wide experience of international tax matters in respect of both the business and their employees.

Specialisms

Technology

Business Tax

R&D Tax Relief

Tax Planning

My Latest Blogs

Jeannette Hume

24th October 2019 R&D Tax Claims: HMRC finally go-digital.

In February 2019 HMRC introduced an online tool to submit Research & Development tax relief claims (both SME and RDEC claims). It is still necessary to make the claim on a company tax return (form CT600), but the accompanying detailed R&D project information can (but does not have to) now be submitted by completion of…

Jeannette Hume

11th December 2018 R&D tax credits explained

Research and development (R&D) tax credits are a valuable government tax relief that rewards UK companies for investing in innovation. Companies that spend money developing new products, processes or services; or enhancing existing ones, are eligible for a cash payment and/or Corporation Tax reduction. R&D tax credit rates are the equivalent of up to 33p…

Jeannette Hume

7th December 2018 Budget Changes Encourage Investment

A number of measures contained in October’s budget were designed to increase investment made by UK businesses and aimed at raising the UK’s international competitiveness. Farmers anticipating expenditure on new commercial buildings or a large outlay on machinery, may find Chancellor Hammond’s changes both interesting and useful. Let’s look first at the Structures and…

Jeannette Hume

8th November 2018 EIS: v2?

Observers of recent Budgets will have noticed that the Chancellor has made several references to “EIS Knowledge Intensive Funds”, as a new initiative to help finance growth in innovative firms. He has even invented a new phrase to describe this type of funding: ‘Patient Capital’. The initial March 2018 Consultation Paper has now closed for…

Jeannette Hume

4th September 2018 EIS Test Case: Capital gains tax exit exemption not linked to income tax entry claim.

In a recent HMRC test case (Ames v CRC), the Upper Tribunal considered whether it was necessary for EIS income tax relief to have been claimed when an EIS investment was made, for the transaction to then potentially qualify for exemption from capital gains tax when the investment was sold. For the case in question,…

Jeannette Hume

18th June 2018 EIS Money: Beware how you spend it!

Tech companies that are financed through EIS equity cash will be aware that this ‘tax wrapper’ can be super-generous, but that many criteria have to be met to ensure eligibility. One of these long standing criteria has been that the company must use the proceeds (up to £5m pa) raised: In either a qualifying trade…

Jeannette Hume

18th September 2017 R&D Tax Relief: HMRC publish take-up report.

R&D tax relief, to provide government subsidies to those companies that develop innovation products, services or systems, has been with us for 17 years now. The latest HMRC R&D tax relief take-up report, encouragingly, shows that the following recent improvements to the scheme have increased the amount of tax relief claimed by 22% over the…

Jeannette Hume

5th June 2017 R&D Claims: Is HMRC advance assurance a good idea?

In a bid to give companies more certainty over whether or not their R&D claim will be successful, HMRC introduced an advance assurance process in November 2015. If you pass this new test, HMRC will agree not to enquire into your R&D claims for the first 3 accounting periods of claiming this relief. So is…

Jeannette Hume

30th November 2016 Preserving EIS Status

EIS: Growth Shares and Preference. Abingdon Health Ltd v HMRC TC05525 This was an interesting case, and a warning for the unwary. The issue at stake was whether HMRC’s withdrawal of EIS relief as a result of a preference created by a new class of growth share was reasonable. The taxpayer company sought EIS relief in respect…

Jeannette Hume

7th October 2016 Preferred Exit

MBO: Self-funding £1m deal allows owners to retire. We have successfully advised the business owners of an engineering firm on its £1m buy out by the existing management team. Our team were initially approached by the business owners for exit planning advice. The owners had successfully built up an engineering business over 20 years and…

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Jeannette Hume (Kings Lynn)

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