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R&D Allowances

John Moore and Reena Malde Deloitte & Touche LLP provide a brief overview of research and development allowances for companies considering claims in the light of experience on the definition of R&D
When considering tax incentives for research and development (R&D) research and development allowances (RDAs) are sometimes overlooked in comparison to the more generous R&D tax relief for revenue expenditure. Under the capital allowances regime companies incurring qualifying capital expenditure on R&D may claim a 100% capital allowance in the accounting period that the expenditure is incurred. Correctly identifying eligibility for RDAs can lead to a claim for capital allowances on expenditure that may or may not otherwise be claimed as industrial buildings allowances (IBAs) or plant and machinery allowances (PMAs) providing an accelerated benefit in comparison. The benefit of...

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