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What is ‘qualifying expenditure’?

27 March 2020

Andy Wood

Corporate

Research & development (R&D)

You can claim research and development tax credits on R&D revenue expenditure, i.e. the day-to-day operational costs directly relating to the innovation project.
Generally speaking, you cannot include capital expenditure within the R&D tax credit claim.
Revenue expenditure includes the following costs which can be included in your R&D claim:
Staffing costs
Externally Provided Workers (EPWs)
Software
Consumable items
Clinical trial volunteers in the pharmaceutical industry
Subcontracted R&D (usually at a different rate to main SME relief rate)
This is where you can take affirmative steps to maximise the value of your claim. An experienced R&D relief specialist will carry out a thorough review and itemisation of all R&D related spend.
ETC Tax are experienced in handling client’s claims from start to finish. Get in touch if you have any queries.

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