Commentary

D1.403 Generally accepted accounting practice (GAAP) definition of R&D

Corporate tax
Corporate tax | Commentary

D1.403 Generally accepted accounting practice (GAAP) definition of R&D

Corporate tax | Commentary

D1.403 Generally accepted accounting practice (GAAP) definition of R&D

For the purposes of R&D tax relief, research and development is defined by CTA 2010, s 11381. This states that the starting point for the definition are those activities which fall to be treated as R&D in accordance with generally accepted accounting practice (GAAP)2.

The accounting standards that deal with GAAP are FRS 102, section 18, FRS 105, section 13 and IAS 38. Prior to the issuance of FRS 102 and FRS 105, SSAP 13 would also have been relevant, see B2.102.

R&D treated as intangible assets

One of the conditions for

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