KnowledgeBank

Jump to topic

• Accounting
• Eligibility
• HMRC
• Making a claim
• Qualifying activities
• Qualifying expenditure
• Rates & charges
• RDEC
• Record-keeping

Accounting

• What is the accounting treatment for R&D tax credits?
• Do I have to restate my previous accounts for R&D tax credits?

Eligibility

• What is an SME for R&D tax credit purposes?
• Is there a minimum amount of expenditure for an R&D tax credit claim?
• How can you change status from SME to RDEC, or vice-versa? 
• Do R&D tax credits apply to an LLP?
• Do R&D tax credits apply to a sole trader?
• Can a company limited by guarantee make an R&D tax credit claim?

HMRC

• What is the likely outcome of an enquiry?
• How long does it take HMRC to review an R&D tax credit claim?
• Do HMRC have powers to withhold R&D repayment of tax?
• Do HMRC charge penalties for incorrect claims?

Making a claim

• Why do I need a full CT600 and computation for my R&D tax credit claim?
• What is the online service for SMEs?
• What is R&D tax relief?
• What goes into the technical documentation?
• Is there a standard format for providing the information to HMRC?
• I've heard the phrase 'competent professional'. What is this?
• How will I receive my R&D tax credit?
• How long does it take to receive my money from an R&D tax credit claim?
• How far back can I claim R&D tax credits?
• How do I switch who I use for claiming R&D tax credits?
• Can I reuse a previous R&D tax credit claim?

Qualifying activities

• What is R&D tax relief?
• How do I know if I’m carrying out R&D?
• Can I claim R&D tax credits for a product which is a copy of an existing product? 

Qualifying expenditure

• What costs qualify for R&D tax credits?
• What are externally provided workers (EPWs)?
• How will furlough affect my R&D tax relief claims?
• How is an R&D tax credit claim affected by SMEs subcontracting to other SMEs with the same shareholders?
• How do you identify how much R&D each staff member does?
• Can you include VAT in an R&D tax credit claim?
• Can pension contributions be included in an R&D tax credit claim?
• Can I still claim R&D tax credits if I don’t pay any PAYE and NIC?
• Can I include travel and subsistence expenses in my R&D tax credit claim?
• Can I claim R&D tax credit relief on subcontractors?
• Can directors' dividends be included in R&D tax credit claims?
• Can apprenticeship costs be included in an R&D tax credit claim?

Rates & charges

• What is R&D tax relief?
• What are the R&D tax credit rates for the SME scheme?
• What are the R&D tax credit rates for the RDEC scheme?

RDEC

• What are the benefits of RDEC in relation to the SME R&D tax credit scheme?

Record-keeping

• What records do I need to keep for an R&D tax credit claim?
• What happens if I have no records of my R&D?
• How do I allocate my employee's time for R&D claims?