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Tax relief on created intangible asset

I have a client who has created a revolutionary piece of software in a small company by himself and has now managed to sell licences for that software for a substantial sum leaving a hefty tax bill.

The booked expenses are less than £10K and the company is obviously small enough to be covered by FRSSE.

Is there a way at this late stage of getting any of the R&D or intangible asset tax reliefs for this company?
Neil Wilson


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By NeilW
13th Oct 2008 17:10

Yeah I've done that.
I was wondering if anybody had anything inventive that would be better than just booking the costs. There are only £4.5K of costs and the first code licence went for £250K.

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By Anonymous
13th Oct 2008 13:53

I haven't done one of these in a while - is the limit £10k now?

Cant you just leave the materials in purchases and the labour in wages P&L?

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