Edition 3rd
Publication April 2023
Length ca. 220 pages
Suitable for Companies and their tax advisers
Price £85
ISBN 9781912386505

Research and Development - With Patent Box

£85.00


IMPORTANT: Please note that, in light of announcements at the Autumn Statement, publication of this edition has been delayed until Spring 2023.

The UK's special tax rules for R&D expenditure continue to 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 become more generous in recent years. 


New for this edition

  • Full updated to reflect changes announced at the Autumn Statement in November 2022.
  • Commentary and examples updated for change in rates. Numerous new examples added.
  • New examples illustrating the tax definition of R&D. 
  • Proposed inclusion of pure mathematics, artificial intelligence and quantum computing in R&D claims.  
  • Potential restriction of relief for some subcontracted R&D work performed overseas. 
  • Case law on subsidised R&D expenditure and on criteria for “an advance in the field of technology”.
  • Impact of PAYE and NIC cap on an SME payable tax credit claim.
  • Expenditure on data sets and cloud computing.
  • Updated HMRC guidance concerning the detail required in a claim for multiple projects.
  • Additional guidance on how to submit an R&D claim when the supporting data is not yet currently available.
  • Update to the advance assurance procedure for submitting an R&D claim.
  • Additional advice in respect of capturing data relevant for an R&D claim.
  • Details about structures and building allowances and the plant and machinery super-deduction.
  • Making a new Patent Box election following a previous revocation.
  • Cost-sharing arrangements and the patent pending period.
  • Discussion of meaning of “significantly contributing” and “significant activity”.
  • Expanded section listing relevant points to consider when deciding whether to make a Patent Box claim.
  • Comprehensive step-by-step examples added re calculation of Patent Box deductions in various circumstances. 
  • New summary of the key differences between externally provided workers and subcontractors.

Contents

RESEARCH AND DEVELOPMENT
- First principles (overview of reliefs)
- Definition of R&D
- Can a claim be made?
- Which scheme - criteria for SME scheme claim
- Which scheme - criteria for large RDEC claim
- Which scheme - criteria for SME RDEC claim
- Calculations (all schemes)
- Qualifying expenditure (all schemes)
- Practical steps - making the claim

RESEARCH AND DEVELOPMENT ALLOWANCES
- R&D capital allowances

PATENT BOX
- Can a Patent Box claim be made
- How to approach the Patent Box
- Old entrant - no new IP
- New entrant
- Old entrant - new IP

APPENDICES
- Appendices


About the authors

Gary Collins is a Tax Partner and Head of Mazars Intellectual Property Group.

Chris Ridley is a Tax Director who plays an active role within the Mazars Intellectual Property Group, leading the Team along the South Coast.

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