The following Owner-Managed Businesses guidance note by Tolley provides comprehensive and up to date tax information covering:
Research & development (R&D) tax relief is only available for expenditure which meets certain conditions and that falls within certain types of qualifying expenditure. The conditions and types of expenditure are similar for both SME R&D relief and large company R&D relief with some exceptions which are detailed below.
Certain conditions have to be met in relation to the expenditure, it must be:
Not all expenditure which meets the qualifying conditions is available for R&D tax relief, the expenditure must also fall within certain qualifying categories which are detailed below:
Further detail on these expenditure types is set
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