David O’Keeffe (Aiglon Consulting) reviews the tribunal decision in Gas Recovery And Recycle Ltd, which considered whether an anticipatory R&D claim could be made before payment had actually been made.
In the recent case of Gas Recovery And Recycle Ltd v HMRC [2016] UKFTT 746 (TC) the First-tier Tribunal had to consider when the deadline was for payment of research and development (R&D) expenditure in order for it to be included in a valid R&D relief claim.
Requirement for ‘payment’
Any company undertaking qualifying R&D and making an R&D tax relief claim will have incurred expenditure on one or more eligible cost category. Advisers not familiar with the R&D tax relief legislation may be surprised to know that for some of these cost categories there is also a requirement that the amount has actually been paid (rather than simply incurred) before relief can be claimed....
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
David O’Keeffe (Aiglon Consulting) reviews the tribunal decision in Gas Recovery And Recycle Ltd, which considered whether an anticipatory R&D claim could be made before payment had actually been made.
In the recent case of Gas Recovery And Recycle Ltd v HMRC [2016] UKFTT 746 (TC) the First-tier Tribunal had to consider when the deadline was for payment of research and development (R&D) expenditure in order for it to be included in a valid R&D relief claim.
Requirement for ‘payment’
Any company undertaking qualifying R&D and making an R&D tax relief claim will have incurred expenditure on one or more eligible cost category. Advisers not familiar with the R&D tax relief legislation may be surprised to know that for some of these cost categories there is also a requirement that the amount has actually been paid (rather than simply incurred) before relief can be claimed....
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
