London: +44 (0)20 7236 2601
St Albans: +44 (0)1727 869141
Rickmansworth: +44 (0) 1923 771010
Milton Keynes: +44 (0)1908 605552

Product development - Tax planning for growing businesses

The key relief in this area is Research and Development tax credit. This provides for tax relief on, broadly, relevant salaries and consumables at 125% or 150% of spend, depending on the number of employees and whether or not your company is large by Companies Act definitions. 

The legislation additionally provides for capital allowances at 100% on R&D equipment.

To see if your product creation and/or development would qualify, you should look at the DTS and HMRC websites: links may be found at http://www.hmrc.gov.uk/randd/

For further details see our detailed note on Research & Development Tax Credits.

 

 

Date: 2nd April, 2007
Author: Cathy Corns

SHARE THIS

Articles from this Author

Contact Business Service Partners

Choose from the drop down menu below to select a Partner to contact.

Tweet

“Good luck to everyone who has also made it as a finalist, I look forward to awards evening later on in the year”-L… twitter.com/i/web/status/8…

Michael Lapham shortlisted in the Money Management Financial Planner Awards 2017 bit.ly/2fL8VXBtwitter.com/i/web/status/8…

Follow

LinkedIn

For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole

Click here to follow us on LinkedIn