How does Research and Development Relief work with companies contracted by the MOD?
I've been looking at R & D relief in my tax studies as well as on HMRC and I have a client who wishes to make use of it if possible.
It's a small company that does research and development on various technologies to do with noise and vibrations with boats. For the most part from what I can tell, they meet the criteria for costs involved and trade, but I'm concerned with the criteria relating to subsidised research and subcontracting.
The director has told me that the company is been employed or contracted or something like that by the Ministry of Defence. Now this means that effectively I suspect that money would be received from them for the research. I do not know at this point whether the intellectual rights vest in the MOD or the company, but I believe it's the latter.
Can anyone advise me on what I should be looking out for when deciding whether this company has any chance of claiming R & D relief when working with the MOD?
- I am 34 years old, am I too old to start a career in Accounting ? which is the best way to pursue it 196 7
- Sage Instant Accounts Complete De-install problem 56 2
- Taxfiler been down since mid-afternoon 114 5
- Anyone having problems with Taxfiler 447 17
- Paid too much !! 161 1
- Gifting Shares to a Limited Company 80 1
- Company separation for Wholesale & Retail businesses 65 1
- Selling a VAT Qualifying vehicle at a loss 67 1
- Paying dividends to Ordinary shares with different nominal values 471 15
- 2012 13 HMRC QUERY 738 11
- Sports Sponsorship 112 1
- New Shareholder and Purchase of Own Share 238 17
- Opt To Tax Refund 207 2
- Divorcing husband, both 50% owners of a Ltd business 200 6
- Is the CT61 return dead? 1,307 14
- Best software for small practice? 604 19
- How did you recalculate your payroll fees 1,261 21
- HMRC Enquiry 475 2
- Car purchase Lease or Buy 219 7
- Notifying HMRC when striking off company that never traded 288 4
- Self employed and HMRC Worldwide Subsistence Rates 764
- Interest paid - do new rules affect Tax Credits? 453
- Market Invoice (P2P invoice discounting) tax treatment 271
- DTA tie-breaker issue 261
- Tax on internet ad sharing income 244
- Credit against UK NI for NI paid to EEC Countries 223
- CGT for NOn UK residents 216
- Apprenticeship Levy 195
- What are the tax implications of overseas sales through a UK based company? 191
- Capital Gains personal representatives 181