The following Corporation Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
Expenditure on R&D can be relieved in the following ways:
for a trading company, revenue expenses are allowable as a deduction against the profits of the trade, and capital expenditure may be eligible for a 100% R&D allowance as detailed in R&D allowances in the Business premises renovation allowances guidance note
in addition, for companies only, qualifying expenditure on R&D is eligible for additional R&D tax relief, the type of relief will depend on whether the company is a small or medium sized enterprise (SME) or a large company (see below)
There is a requirement for both the SME and large company R&D reliefs that the R&D must be relevant R&D for the claimant company which means that it is related to a trade carried on by the company or the trade of the company will be derived from the R&D in the future.
In addition, the qualifying R&D expenditure has to be allowable as a deduction in computing the profits of the trade subject to corporation tax. This rule is relaxed for intangible assets where revenue R&D expenditure i
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