Corporation Tax: Research and Development small or medium-sized enterprises rules — technical correction to intensity ratio definition
This tax information and impact note is about a change to legislation to make sure that Research and Development (R&D) expenditure credit (RDEC) qualifying expenditure is included in the calculation of the R&D intensity ratio for all claims to the enhanced rate from its introduction in April 2023.
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The amendments to the certification condition and unpaid amounts align the Audio-Visual Expenditure Credit and Video Games Expenditure Credit legislation with the equivalent provisions under the older tax reliefs for films, TV programmes and video games. The amendment to regulation-making procedure corrects it in line with standard procedure for tax-related regulations.