The following Corporation Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
Relief for research and development expenditure differs depending upon whether the expenditure is capital or revenue in nature (see the Capital vs revenue expenditure guidance note). Relief for revenue expenditure also differs depending upon whether the company qualifies as an SME or not. The available reliefs can be summarised as follows:
R&D allowances (RDA) which allow full relief for qualifying capital expenditure in the year that it is incurred
R&D tax reliefs which allow relief for qualifying revenue expenditure
It is important to note t
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