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R&D tax credits
A guide to the tax relief available to innovative SMEs
Research and development (R&D) tax relief for small companies provides an enhanced deduction for the costs of qualifying R&D projects.
R&D tax relief for large companies is given as an expenditure credit in the company’s profit and loss account before the tax charge is deducted. This ‘above the line’ mechanism for providing R&D relief is not discussed further in this article, which is concerned only with the scheme for SMEs.
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