Outlining The Costs That Are Eligible For Research And Development Tax Relief
A lot of business establishment qualify to claim research and development expenses. The eligibility is not dependent on the size or the profitability of the business entity. Your technical team is the best placed to have engagements regarding your development matters rather than the finance department.
An area where a business can lodge research and development tax relief claim is staffing costs. You will find employer NI contributions, employer pension contributions, certain reimbursed expenses and gross salaries under this ambit. Among the benefits that you will find under the gross salaries include cash bonuses, overtime pay and wages.
Another type of expense that is eligible for research and development tax relief claim is the subcontracted R&D. You should however bear in mind that any expenses incurred under the RDEC scheme will not qualify for the tax relief. As an SME you are allowed to make claims on subcontractors’ expenditure that were involved in the R&D projects.
Externally provided workers costs are eligible for tax relief claims for research and development project for your company. The EPWs include the agency staff, freelancers and contractors. As the claiming company you …