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The R & D Tax Credit Scheme
Was introduced by the EU / UK  to reward businesses who were involved with research, development or other form of innovation. The scheme works by identifying qualifying R&D costs within the business and then enhancing these costs to either reduce the businesses Corporation Tax liability and or generate a Payable R&D Tax Credit - many clients recover all the Corporation Tax paid and receive a Payable R&D Tax Credit. Prerequisites are:
  • Claimant must be Limited Company (not Partnership)
  • 2 Schemes – large company & SME
  • Claimant can make 2 historical claims plus current & future years
  • Scheme rewards Innovation – not just men in white coats with test tubes
  • Business must be advancing science or information technology
  • Business must be overcoming uncertainties
  • There is no requirement for the claimant to own the IP
  • Business must be at Financial Risk with R&D
  • R&D Tax Experts isolate the business’s R&D costs
  • R&D Tax Experts isolate the business’s R&D projects
  • Projects maybe product or process related
  • The SME claimant reduces its Corporation Tax liability and or receives a payable R&D Tax Credit
  • The Large Company claimant receives an above the line RDEC (Research and Development Expenditure Credit

© R&D Tax Experts Ltd 2017 - Registered Office: The Lodge, Durford Place, Durford Wood, Petersfield, Hampshire GU31 5AL - Co No: 07337995
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