blog

Can advisers rely on AI for capital allowances advice?

manthistle@bonhamandbrook.co.uk (Mark Anthistle) — Mon, 05 Oct 2026 14:16:15 GMT

Artificial Intelligence (AI) has exploded in popularity over the last few years. What was once largely associated with technology businesses and specialist applications has rapidly become part of everyday working life, with tools such as ChatGPT, Copilot, and Claude now being used to research, analyse, draft and answer questions across almost every profession. For financial advisers, AI presents an obvious opportunity: the ability to ask a question in plain English and receive an immediate response can be particularly valuable when dealing with technical subjects that sit outside their day-to-day area of expertise.

The rapid evolution of AI is prompting growing concern among professionals, and the tax profession is certainly not immune to this apprehension, with many of the tasks traditionally undertaken by tax consultants now falling within the expanding capabilities of AI.

However, while AI has developed at an extraordinary pace, it is important to understand its limitations. AI does not necessarily "know" whether an answer is correct simply because it can provide one confidently and coherently. It can misunderstand the facts presented to it, rely on outdated information, overlook important exceptions or produce references that do not support the conclusion reached. This is particularly relevant in tax, where relatively small differences in circumstances can materially change the treatment of an item of expenditure. An answer that sounds entirely plausible can therefore still be technically incorrect.

HMRC’s Proposed New Inaccuracies Regime: What Businesses Need to Know

Omountford@bonhamandbrook.co.uk (Oliver Mountford) — Mon, 24 Aug 2026 14:01:20 GMT

HMRC has published draft legislation that would significantly strengthen the obligations placed on taxpayers when errors are discovered in previously submitted tax returns and supporting documents.

R&D Tax Relief Reset: Why Specialist HMRC Units Should Return

mhenderson@bonhamandbrook.co.uk (Malcolm Henderson) — Mon, 24 Aug 2026 13:43:30 GMT

The UK’s R&D tax relief system has become more complex, less accessible and increasingly difficult for genuine claimants to navigate.

It was not always this way. As a former leader within HMRC’s specialist R&D Units, I saw first-hand how experienced inspectors, direct engagement with businesses and strong sector knowledge helped the relief achieve its purpose: supporting genuine innovation while identifying and challenging abuse.

That balance has gradually been lost. If the government is serious about restoring confidence in the scheme, it should begin by rebuilding the specialist expertise that once made it work.

Grants & Subsidies: How they affect your R&D Tax Relief claim

mhenderson@bonhamandbrook.co.uk (Malcolm Henderson) — Wed, 27 May 2026 09:30:00 GMT

You may be thinking that, with the introduction of the R&D Merged Scheme for accounting periods beginning on or after 1 April 2024, grants and subsidies are no longer a key consideration.

However, that is not quite the case. While their potential impact will reduce over time, grants and subsidies cannot yet be ignored.

R&D, Contractors and IP: The Ownership Gap Businesses Overlook - Bonham & Brook

tnicolson@bonhamandbrook.com (Thomas Nicolson) — Wed, 29 Apr 2026 09:45:00 GMT

Most businesses assume that if they’ve paid for innovation, they own it. In reality, that’s often not the case—and it can be a costly mistake.

Announcing the British Industrial Competitiveness Scheme (BICS)

sshaw@bonhamandbrook.co.uk (Shannon Shaw) — Wed, 22 Apr 2026 09:45:00 GMT

The UK Government has announced the British Industrial Competitiveness Scheme (BICS), a major initiative designed to reduce industrial electricity costs and strengthen UK manufacturing competitiveness.

New HMRC Rules for 2026: The Compliance Risk for Conveyancers Handling Stamp Taxes

hmalik@bonhamandbrook.co.uk (Huzaifah Malik) — Wed, 08 Apr 2026 09:45:00 GMT

From 18 May 2026, a new HMRC registration requirement comes into force for anyone interacting with them on behalf of clients in relation to tax.

At first glance, many firms will assume this sits firmly with their tax teams. In practice, the scope is much wider, and for conveyancers in particular, it’s easy to underestimate how directly this applies.

UK Manufacturing in Crisis: What business leaders must do as energy cost surge

jmenzies@bonhamandbrook.co.uk (Jonathan Menzies) — Fri, 27 Mar 2026 11:00:00 GMT

The UK’s manufacturing base is once again under threat – and this time the challenge is structural, not cyclical.

R&D Communication Forum (RDCF) March 2026 – Insights for Claiming Businesses

Omountford@bonhamandbrook.co.uk (Oliver Mountford) — Tue, 24 Mar 2026 11:00:00 GMT

HMRC has announced a series of updates to R&D tax relief, and while the technical details are aimed at consultants, the changes have real impact for businesses. Here’s what they mean for you in and your business in the simplest terms.

US Expansion: A Conversation with Bill Cogan, Founder of Seven Legal - Bonham & Brook

tnicolson@bonhamandbrook.com (Thomas Nicolson) — Wed, 18 Mar 2026 00:00:00 GMT

Tom Nicolson, Partner at Bonham & Brook, has a conversation over coffee with Bill Cogan, Founder of Seven Legal about US expansion — when it makes sense, when it doesn’t, and where people get it wrong