Can I obtain tax relief on capitalised R&D expenditure?
Can I obtain tax relief on capitalised R&D expenditure? When an innovative company incurs expenditure on capital assets for R&D purposes it is important to understand how R&D tax incentives and capital allowances compare and interact. R&D Tax Credits / Relief can only be claimed for revenue expenditure on qualifying activities such as costs incurred … Continue reading “Can I obtain tax relief on capitalised R&D expenditure?”
The impact of Connected Party relationships for R&D Tax Relief
The impact of ‘Connected Party’ relationships for R&D Tax Relief What are ‘connected-party’ subcontractors or EPW’s under R&D Tax Relief legislation? Whilst there are numerous ways in which a company may be classified as connected, some of the most obvious are through common ownership and control, or through lineal family relationships e.g. parents, children and … Continue reading “The impact of Connected Party relationships for R&D Tax Relief”
Differentiating Subcontractors from EPW’s for R&D Tax Relief
Differentiating Subcontractors from EPW’s for R&D Tax Relief What is the difference between a Subcontractor and an EPW in relation to an R&D Tax Relief claim? R&D projects often require work to be outsourced to other parties. This does not prevent you from claiming R&D Tax Credits, but differentiating between third-party relationships is an important … Continue reading “Differentiating Subcontractors from EPW’s for R&D Tax Relief”
What Reimbursed Expenses qualify for R&D Tax Relief?
What Reimbursed Expenses qualify for R&D Tax Relief? Did you know that HMRC recently relaxed the rules regarding the recovery of expenses incurred by staff in the course of undertaking compliant R&D activity? Pre-existing legislation meant that staffing costs recognised as qualifying for R&D Tax Credits were limited to; Salaries or wages (including bonuses) Class … Continue reading “What Reimbursed Expenses qualify for R&D Tax Relief?”
What type of ‘consumable items’ qualify for R&D Tax Relief?
What type of ‘consumable items’ qualify for R&D Tax Relief? What does the term ‘consumable items’ mean when claiming R&D Tax relief? The term ‘consumable items’ covers items consumed or transformed whilst undertaking compliant R&D activity, including raw materials, software licenses and utilities of fuel, power and water. The fundamental arbiter is that the items … Continue reading “What type of ‘consumable items’ qualify for R&D Tax Relief?”