Research and Development Tax Reliefs, Second Edition offers an accessible and expert analysis of the UK R & D tax incentive. It is essential reading for tax advisers and business owners alike, simplifying a complex area of UK taxation and evaluating alternative sources of funding for innovation from a wide range of UK and EU framework programmes. Major changes have been made to the UK R & D tax relief regime during 2015 and 2016. These build upon the UK government's commitment to the innovative sector and provide valuable funding for innovation. Comprehensive guidance on the reliefs, both UK and international, are brought together in one easy-to-follow handbook. With specialist Insight into the SME R & D tax reliefs and R & D Expenditure Credit and Creative Sector reliefs, the book provides completely up-to-date analysis and perspective. This authoritative guide shows that innovation can take place in a wide range of industries. Practical examples and case studies are drawn from a wide range of companies and business sectors, including many of the UK's emerging technologies.

With up-to-date tables of rates and allowances for both the SME and large company schemes, the text fully reflects current UK and EU legislation and case law as well as HMRC interpretations. Bonus material includes over 100 technical points commonly encountered with the relief and current guidance on HMRC's extensive enquiry powers, Guidance and record-keeping requirements. International comparisons are drawn from the key EEA territories enabling an 'at a glance' comparison of the benefits available outside the UK. Research and Development Tax Reliefs, Second Edition provides detailed coverage of the key developments in Finance Acts 2015 and 2016 including the impact of the Patent Box regime, as well as the transition towards the R & D Expenditure Credit and FRS 102. The book also summarises the wider corporate and accounting issues affecting many tech companies and their shareholders. Book jacket.