Research and development tax relief available for construction and related industries. Demystification guide (X523)

There is a minimum order of five copies for this title

Historically, UK spending on R&D, as a proportion of gross domestic product, has been somewhat lower than in other countries. As part of its agenda to build a modern knowledge based economy and improve productivity, the government wished to increase the amount spent by companies on R&D. As a result, it introduced two reliefs for companies for expenditure on R&D, one for large companies and the other for companies that are small or medium sized (SMEs).

This report explains in simple terms the principles of R&D tax relief (credits) but it is not a definitive guide. Any matter of taxation can have levels of complexity that require more expert knowledge so advice should be sought from taxation advisors. Three definitions and explanations of terms are discussed in the guide - what counts as R&D?, 'seek to achieve' an advance in science or technology, and 'qualifying' R&D. These and other terms are explained in more detail with examples later in the more detailed chapters.

ISBN: 978-0-86017-924-5
Author: Buildoffsite
Number of pages: 22
Publisher: CIRIA
Date of Publication: May 2011