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R&D Tax Relief: SME and RDEC basics
The R&D Tax Relief Scheme was introduced in the U.K. in 2000 to support and reward companies undertaking the costly and sometimes onerous business of research and development. This guide aims to give you an idea of how to assess your client’s R&D tax ...
Assessing technical eligibility
Assessing technical eligibility When working out what work qualifies for R&D tax relief, you have to consider two things - is the work a project according to HMRC, and, if it is, does the work qualify? Project definition for R&D tax relief HMRC ...
Turnover and balance sheet assets
A company's SME status for the purpose of R&D tax relief is determined by both the staff headcount and the turnover and balance sheet total. In this context, the balance sheet total is the gross amount of assets shown in the accounts. The turnover ...
Categories of eligible expenditure - RDEC and SME
The R&D qualifying expenditure for tax credits includes the costs of paying people to do the work, paying for the consumables used during the work, and paying for external resources where necessary. Most costs are common to both schemes, with some ...
Claiming for furloughed workers
As a reminder, the CJRS was launched in March 2020, and forms the cornerstone of the Government’s support to businesses during the Covid-19 crisis. It originally enabled employers to furlough employees and claim back 80% of the salary costs of these ...
Background information on the R&D tax relief schemes