AI-assisted tax assessment

The recent introduction of new tax relief, Structure and Buildings Allowances, has widened the scope of qualifying expenditure and thus expanded the market to include many more companies who otherwise would not have claimed. The project between Veritas and Brunel University London will develop AI-assisted technology to aid SMEs to more efficiently collect and categorise data for tax assessment and tax relief.

There is currently a significant gap between the large corporates, who normally take advantage of the tax relief through expensive accounting consultancy, and SMEs who have been largely left out due to a lack of understanding of the regulations, and financial constraints. This project will create an affordable technical solution to enable the SMEs to capitalise on this opportunity.

Currently, data collection and categorisation are carried out through a manual process, which is a time-consuming and inefficient use of highly qualified consultants. The aim of this project is to develop an automated system for capital allowance assessment to collate and categorise the data required and to automatically generate tax claim reports that comply with the complex regulations.

The project will meet the following key objectives:

1. to standardise the process of data entry to provide a complete and consistent collection of data;
2. to develop a rule-based expert system to automate the process of capital allowance assessment;
3. to support SMEs to claim the benefit of capital allowance and further their development and growth;
4. to increase the Company's profits by increasing revenue from large corporates and growing their share of the SME market; and
5. to engage with HM Revenue & Customs (HMRC) and the Royal Institution of Chartered Surveyors (RICS) to promote tax compliance on capital allowances.

Meet the Principal Investigator(s) for the project

Dr Yongmin Li - Please visit my personal website where you may find more details of my work. Prof. Yongmin Li received his PhD from Queen Mary, University of London, MEng and BEng from Tsinghua University, China. Before joining Brunel University, he worked as a research scientist in the British Telecom Laboratories. He is a Senior Member of the IEEE, and Senior Fellow of the Higher Education Academy. He was ranked in the world's top 2% scientists by the Standardized Citation Indicators (Elsevier) every year since 2020. His research interest covers the areas of data science, machine learning, artificial intelligence, image processing, computer vision, video analysis, medical imaging, bio-imaging, biomedical engineering, healthcare technologies, automatic control and nonlinear filtering. Together with his colleagues, their work has won the following awards: 1st Place, RETOUCH Challenge (Online), MICCAI 2023 (with Ndipenoch, Miron and Wang). 2nd Place, FeTA Challenge, MICCAI 2022 (with McConnell, Ndipenoch and Miron). Most Influential Paper over the Decade Award, MVA, 2019 (with Ruta, Porikli, et al). Best Paper Award, Bioimaging, 2018 (with Dodo, Eltayef and Liu). VC Prize, Brunel University, 2015 (with Kaba and Liu). Best Paper Award, HIS, 2012 (with Salazar-Gonzalez and Kaba). Best Poster Prize, BMVC, 2007 (with Ruta and Liu). Best Scientific Paper Award, BMVC, 2001 (with Gong and Liddell). Best Paper Prize, RATFG, 2001 (with Gong and Liddell). For Chinese students only: Twenty (20) China Scholarship Council (CSC) scholarships are available for PhD studies at Brunel University of London. Brunel University of London will provide full tuition fees (up to 48 months) for each successful candidate. The CSC will provide each scholarship recipient with a stipend for living costs (including medical insurance), one international round trip economy class airfare between China and the UK, and reimbursement for one-off visa application fees. Follow this link to apply. Expected start date: September 2025. Deadline : 3 January 2025 at 12am. Prospective PhD Students: We invite talented and hard-working students to join us for their PhD study. From time to time, we may have studentships available, which include an annual bursary (about £18,000 this year) plus payment of tuition fees for three years. Currently we have several projects on-going, for example, Deep Learning for Medical Imaging, Natural Language Processing for Business Intelligence, Natural Language Processing for Tax Assessment, and Image/Video Content Generation for Personalised Remarketing. But any other topics within the area of artificial intelligence and data science would also be welcome.  Contact me for details if interested. Master of Science in Artificial Intelligence 2024/25: Built on our strong international research profile (consistently ranked in the top 200 in the world over the past decade by various ranking systems, and particularly strong in publication performance, e.g. 7th in UK by the "NTU Performance Ranking of Scientific Papers for World Universities" (Subject: Computer Science, 2023),  we offer the MSc Artificial Intelligence course with great flexibility (1 year full-time, 2 year part-time or 3 year staged study). If you are interested, apply here. 15 Scholarships available for applicants from under-represented groups, £10,000 of each. Research & Development Collaboration: Developing downstream applications of large AI models is a focused area of my group in the upcoming years. Contact me if you have a collaboration project. We can assist in securing funding from sources like UKRI, EU, or Innovate UK, potentially cutting your costs in the project significantly (e.g. by 1/3 or more), plus the university's input.

Project last modified 23/03/2021