Hi All,
A company has trading profits for the year of £50k, but an R&B claim totalling £70k - so overall there is no corporation tax to pay - but, what happens to the addition 20k is this just retained to carry forward or can a tax credit at 14.5% be applied to the £20k to obtain a rebate?
Any help appreciated, I'm going cross eyed with this!! Thank you
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I find the HMRC guidance on the topic very helpful. It answers any questions I've ever had.
it's a scientific fact that you will get more response if you don't post as 'anonymous'. A bit like when you supply a nice photo on match.com
You can offset against other profits (last year/next year) or claim a rebate.
Does the business need the cash from an R&D claim? If not the tax relief is greater if used to reduce taxable profits in the prior or future years.
I'm not particularly fond of these R&B claims and the way people Usher them in.
Well, if you can't help the OP with their query I'm sure that Chaka Khan.
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