19 September 2017
Expenditure on relevant R&D undertaken by SME consumer businesses can reduce company corporate tax bills in the UK by up to 44 pence for every £1 spent subject to certain criteria. Companies can even cash in their trading losses for a cash refund worth up to 33 pence for every £1 spent. If your consumer business is carrying on relevant R&D it may potentially take advantage of these credits. Have you considered if this is relevant to your company?
Andy is a tax director based in the London head office of RSM UK.