R&D Tax Relief
This course will enable you to:
- Understand how each scheme works, what the benefits are, who is eligible and how much can be claimed
- Identify when qualifying R&D is taking place
- Compile an R&D cost breakdown, avoiding common pitfalls
- Calculate SME R&D tax relief and tax credit claim amounts
- Know what to do when there is a change to a claim rate
- Make and prepare a successful claim under the SME scheme
Do you know how to judge whether your company or client is eligible for R&D tax relief, and if so how to go about claiming them? The R&D tax relief and tax credit scheme is still much underutilised, and if you can get to grips with it, you could significantly reduce your business or client's tax liability or even generate a cash payment.
This course gives you everything you need to become an expert in R&D tax credits. Gain an in depth understanding of both SME R&D relief and the Research and Development Expenditure Credit (RDEC), including who is eligible and how much they could get and find out about applying for the relief for SMEs.
Overview of R&D tax reliefs
- Stats on the schemes
- Suggestions box
- SME or RDEC?
- Current claim rates
- R&D basics
Qualifying projects and activities
- Science and technology
- Technological uncertainties
- Metalli Co.
- Competent professional
- By definition
- Qualifying activities
- Corner the Market Ltd
- Your clients' R&D activites
- Identifying qualifying projects and activities
- Claimable costs
- Staff and other key costs
- Ultratrade Ltd
- Cost breakdown
- Uplight Ltd
- Make the Mould Ltd
- Counting costs
- Common pitfalls
- Checking costs
- Calculation steps
- Stork Industries
- Calculation stations
- Enhancement and tax credit rate changes
- Form CT600 and tax computations
- Nothing to lose?
- Calculations practice
- Key SME qualification checks
- Making and preparing a claim
- Technical justification
- Cost breakdown summary
- Supporting documents
- Validating and supporting claims
- HMRC enquiries
- Failed claim
- Blue Skies Ltd
- Ready, set, claim
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