Corporation Tax - R&D Flashcards
1
Q
What are the two rates that Small/medium sized companies can deduct R&D at?
A
Total cost and: 130% or 86%
2
Q
How to decide which rate to deduct R&D at for SME?
A
Depending on whether it was incurred pre 1.4.23 or post 1.4.23
3
Q
What are the two rates the large sized companies can deduct R&D credits at?
A
pre 1.4.23 13% or post 1.4.23 20%
4
Q
How to decide which rate to deduct R&D at for Large entities??
A
Depending on whether it was incurred pre 1.4.23 or post 1.4.23
5
Q
Where is the relief added and deducted for R&D relating to large entities
A
The relief you have calculated is added to taxable trading profits and deducted to reduce CTAX liability!
6
Q
What % of sub-contract R&D costs qualify as revenue expenditure?
A
65%
