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