Insight
There are two distinct R&D tax credit schemes, one for SMEs and the other for ‘large’ companies which, for the purposes of the legislation, are those which employ more than 500 full-time staff and where either the turnover exceeds €100m or the Balance Sheet value exceeds €86m. Scheme eligibility may also be impacted by the support of external funding (usually grants) or the undertaking of subcontracted R&D on behalf of a ‘large company’.
  • R&D Schemes

Can I claim R&D Tax Credits for grant-funded projects?

There are two R&D Tax Credit schemes available, the Small and Medium Enterprise (SME) scheme and the Research and Development Expenditure Credit (RDEC) scheme, and...

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  • R&D Schemes

What do HMRC mean by the term ‘Competent Professional’?

What do HMRC mean by the term ‘Competent Professional’? In overview terms, HMRC define compliant R&D for tax purposes as; ‘the seeking of an advancement in s...

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  • R&D Schemes

What are the record-keeping requirements for claiming R&D Tax Relief?

Sound record-keeping practices are all very well in an ideal world but, at Innovation Tax, we understand that busy SME’s have more than enough to deal with day-to-day ...

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  • R&D Schemes

Which R&D scheme am I entitled to claim under?

Hmmm… two schemes, one far more generous than the other. There’s a catch, right?Not so much a ‘catch. just a few questions that need answering. Firstly, was headcount ...

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