Research and Development

Clear commentary on the UK’s special tax rules for R&D expenditure.

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About this work

The R&D rules offer valuable tax relief for companies. This book explains how the scope of the relief is wider than is often imagined, whilst also showing the statutory conditions that must be met for a successful claim. The book also demonstrates how the tax rules have developed in recent years, including details of the newer merged scheme and of the rules for enhanced R&D-
intensive support (ERIS).

Table of contents

• • Introduction and first principles

• • Definition of R&D for tax purposes [expanded by way of example]
    • Introduction
    • The accounts definition – GAAP
    • • The tax definition [expanded by way of example]
        • The SIT Guidelines
        • Scientific or technological advance
        • Appreciable improvement
        • Advance in the overall knowledge or capability of a field
        • What is science or technology?
        • Scientific or technological uncertainty
        • What is a project?
        • • Types of projects that could potentially qualify for R&D

• • Can a claim be made?

• • The merged scheme

• • Enhanced R&D-intensive support (ERIS)

• • The SME scheme

• • The large RDEC scheme

• • RDEC scheme for SMEs

• • Calculating the benefit

• • Qualifying expenditure

• • Practical steps

• • Capital allowances – R&D allowances

• • Patent Box – can a claim be made?

• • Patent Box – the current regime

• • Appendices