Legislation governing R&D Tax Credits

Posted by on 16 Jul 2010 in R&D Tax Credit | 0 comments

The legislation governing these incentives for innovative businesses is detailed in the 2009 Corporation Tax Act (CTA 2009), specifically Part 13. It is a complete rewrite of the legislation originally introduced in 2000 and amended in 2002. There are now many hundreds of pages of information, rules and regulations that govern what you can and can’t claim. It’s a technical area. Yes, technical – it is understanding the technology you are working with and realting it to those rules that’s critical. It’s not accounting, it’s having a critical understanding of engineering that’s importnat. Contact us today – this is our area of technical...

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R&D Tax Credits: SME scheme – Removal of IP condition

Posted by on 2 Jul 2010 in R&D Tax Credit | 0 comments

There is a condition applying to small or medium (SME) companies seeking to calim R&D tax credit relief which menas that it is a condition of a claim that any intellectual property (IP) deriving from the research and development (R&D) has to be owned by the company. This is to be abolished. Currently, a company which is a SME must, as a condition of receiving R&D tax relief, own any intellectual property deriving from the R&D. As announced in the 2009 Pre-Budget Report this condition will be abolished. This change will apply to any expenditure incurred by a SME on R&D in an accounting period ending on or after 9 December 2009. Suddenly one of the obstacles, especailly for SMEs and IT specailist companies has been removed. Discover what this means for you and call for our free R & D Tax Credit assessment...

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