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Active Practice Update: Research and Development
For accounting purposes, R&D is largely deﬁned as expenditure that cannot qualify for tax relief unless it can ﬁrst be accounted for as R&D against certain standards. Although this is the primary starting point, expenditure qualifying as R&D under UK GAAP does not automatically qualify for R&D tax relief as there is a wide range of tax guidance and legislation which must be satisﬁed.
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