Corporate Tax (R&D Tax)

Package Inclusion :

  • Assess liability for claiming R&D incentives
  • Assisting in implementing systems and processes for capturing the necessary information relating to R&D incentives
  • Assistance in preparing and processing application forms relevant for recognition and approval of R&D facility
  • Identifying the expenditure eligible for R&D incentive claims
  • Preparation, review and facilitating R&D tax incentive claims
  • Also support services for realization of R&D incentive claims

Corporate Tax (R&D Tax)

Corporate Tax (R&D Tax)

In order to encourage Investment in Research and Development (R&D) the government of India has provided motivation in the form of various tax incentives. The incentives are basically available in respect of revenue and capital expenditures which are incurred by the entities in carrying out R&D activities related to their businesses also including contributions to various institutions or organizations for carrying out scientific research.

Research and development (R&D) tax credits are valuable government relief that rewards the UK Companies for investing in innovations. Corporation Tax (R&D) will help the company to claim tax relief only if such company is liable to Corporation Tax

R&D Tax Relief Scheme: The benefit of claiming relief is available only to companies which are registered under Small or medium sized enterprise scheme or the large company scheme.

Eligibility for claiming Relief

R&D Cost that qualify for relief

If the company and project meets the necessary conditions that it is eligible to claim tax relief on revenue expenditure .i.e. day to day business expenditures excluding capital expenditures on assets such as

How and when to claim R&D Relief

1) When to claim

The company can claim R&D Tax relief in your CT Return or amended return. The time limit for the same is 2 years after the end of the relevant CT accounting period.

2) How to claim

Record Keeping Requirements

There is no specific record keeping requirement for R&D tax relief claims. But the general requirement of CT is to keep sufficient records to support the entries on your CT return still applies

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