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The new regime will apply to any expenditure on R&D which falls within an accounting period ending on or after 9 December 2009. This shift should help subcontractors carrying out research for larger companies. At present, to be eligible for the additional tax relief on R&D, SMEs must own any intellectual property created by their R&D activities.
The SME Scheme is open to organisations with fewer than 500 employees, an annual turnover of less than 100 million euros and a balance sheet not exceeding 86 million euros, so long as they have an annual spend on R&D of at least a token £10,000. There may be more to come, since public consultations on IP taxation are promised for later this year.
You can find further detail on R&D relief for Corporation Tax on the HM Revenue & Custom website here.
The SME Scheme is open to organisations with fewer than 500 employees, an annual turnover of less than 100 million euros and a balance sheet not exceeding 86 million euros, so long as they have an annual spend on R&D of at least a token £10,000. There may be more to come, since public consultations on IP taxation are promised for later this year.
You can find further detail on R&D relief for Corporation Tax on the HM Revenue & Custom website here.
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