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In the current economic climate, companies are increasingly looking for ways to cut their costs. One option, where a business is eligible, is to make a claim for Research & Development (“R & D”) Tax Relief. If a company comes…
Blog15th Nov 2016
By Sarah Munro
In the current economic climate, companies are increasingly looking for ways to cut their costs. One option, where a business is eligible, is to make a claim for Research & Development (“R & D”) Tax Relief.
Eligible Activities
Eligible activities are those attempting to make an advance in science or technology through, for example;
What is also important is that the potential solution must not be easily ascertainable and that a specialist working in the particular field would find difficult to do.
The R&D Tax Reliefs noted above are for expenditure which is revenue in nature. A company may have also incurred capital expenditure to allow it to carry out R & D activity. Special Research & Development Allowances are also available for these capital costs.
The perceived complexity of the rules may be putting businesses off from making a claim. However, an experienced professional advisor can simplify the process and assist with a claim.
Making a claim will result in staff involved in R & D helping to pay for themselves, for activity they are already involved in, with very little additional work required.
So what is stopping you?
AAB will be hosting and presenting at the forthcoming Oil & Gas Innovation Funding Seminar with OGIC. For more details and to book a place, see details below:
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