Commentary

B3.708 Revenue expenditure on research and development

Business tax
Business tax | Commentary

B3.708 Revenue expenditure on research and development

Business tax | Commentary

B3.708 Revenue expenditure on research and development

There are separate rules governing relief for revenue rather than capital expenditure on R&D1. These contain a slightly different definition of what constitutes R&D; it does not include oil and gas exploration and appraisal2.

In addition, there is further relief at 130% (125% for expenditure incurred before 1 April 2015, 100% for expenditure before 1 April 2012) for certain qualifying revenue expenditure on R&D incurred by small and medium-sized companies3.

For expenditure incurred on or after 1 April 2015, companies (and not, from 1 August 2015, universities and charities4) can elect to receive a payable

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