Helping businesses secure and maximise R&D tax credits and grants

Can you claim R&D Tax Credits for development costs that have been capitalised under intangible assets?

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The good news is that for accounting periods beginning on or after 1 January 2005, eligible R&D Tax Credits expenditure of a revenue nature that is capitalised as part of the cost of intangible assets can qualify for R&D tax credits. The legislative details can be found in the Finance Act 2004 s53.

How much expenditure is eligible for R&D Tax Credits?

Providing the expenditure incurred is eligible for R&D Tax Credits you can claim the amount of expenditure that has been incurred during the accounting period. The relevant amortisation amount is to be disallowed, otherwise there would be a double-counting of relief.

Who would benefit from this opportunity?

Organisations that capitalise technology related expenditure such as developed software costs will be able to make an R&D Tax Credit claim based on when the costs were incurred.

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Please contact us to discuss how working with Myriad Associates can maximise and secure R&D funding opportunities for your business.

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