This year has brought the most significant changes to the regime for R&D tax relief since it was introduced in the year 2000, with changes to the rates of relief and tightening up of the compliance system for claiming the relief.
There are strict guidelines regarding the type of costs that can be included within your company’s R&D tax claim and the categories are described in this blog.
There are two types of Research and Development (R&D) relief: ‘SME R&D Relief’ and ‘Research and Development Expenditure Credit (RDEC)’ and the type you can claim depends on the size of your company.
HMRC require a summary to support the claim for Research and Development Relief after more and more dubious R&D claims and in order to combat this they have appointed more inspectors to review claims.
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