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R&D tax relief for SMEs

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HMRC has updated its guidance on the R&D tax relief scheme for SMEs, with information on using the online service to send further details in support of an R&D relief claim, following submission of a full company tax return.

The list of costs which may be included in a claim has also been updated to include software licence fees and payments made to clinical trials volunteers.

The SME scheme is for companies with fewer than 500 employees and a turnover of under €100m (or balance sheet total under €86m). The relief allows companies to:

  • deduct an extra 130% of their qualifying costs from their yearly profit, as well as the normal 100% deduction, to make a total 230% deduction; and
  • claim a tax credit if the company is loss making, worth up to 14.5% of the surrenderable loss.


Issue: 1431
Categories: News