New regulations regarding consumables provide clarification in research and development tax relief claims.
- The research and development tax relief regime appears to be in a state of continual evolution.
- HMRC’s latest efforts focus on simplifying the rules on “consumables or transformable materials”.
- The broad brush definition can result in confusion for claimant companies.
- Tax credits are not intended to subsidise the production manufacture or delivery of services.
- Common sense and diligent record-keeping will help to ensure that potential R&D pitfalls are avoided.
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