but only <\/a>after removing the saleable element (i.e., the materials must only be used for testing and prototyping and not sold on).<\/p>\n\n\n\nIn circumstances where there is a saleable product at the end of the R&D, you must deduct the lower amount of either the original material cost or the potential resale value.<\/p>\n\n\n\n
Utilities<\/h3>\n\n\n\n Utility costs such as gas, electricity and water are all considered eligible expenses for R&D tax credits, but only if they have been consumed specifically in R&D activities. In these circumstances, it’s reasonable to use an apportionment to claim the tax credit.<\/p>\n\n\n\n
Subcontracting<\/h3>\n\n\n\n Companies can claim R&D Tax Credits for subcontracted work under specific circumstances. Firstly, businesses can subcontract qualifying R&D activities to universities or institutes of higher education from an EU Member State. If they do so, they can claim a tax credit of up to the greater of 15% of their own R&D spending or \u20ac100,000 annually.<\/p>\n\n\n\n
Secondly, a company can claim R&D tax credits on costs incurred when subcontracting qualifying R&D activities to another business or when using agency staff, provided the subcontractor is not a connected party. Again, the R&D tax credit is limited to the greater of 15% of the company’s own R&D expenditure or \u20ac100,000 annually. However, the company needs to notify the subcontractor before the company settles its invoice to the subcontractor that it intends to use the payment in its R&D Tax Credit claim.<\/p>\n\n\n\n
Individual consultants hired to conduct sub-contracted R&D activities can be treated as direct employees for the purposes of claiming expenses provided they meet some specific conditions.<\/p>\n\n\n\n
Rental costs<\/h3>\n\n\n\n Rental costs may be eligible but only if it meets specific requirements. Is the rental space simply an area where R&D takes place along with the other activities (e.g., an office or manufacturing facility)? If this is the case, the expenditure is not eligible.<\/p>\n\n\n\n
If, however, the rented space is specialised in some way (e.g., it\u2019s a laboratory, clean room, technically unique space, etc.) so that the nature of the room itself is integral to carrying out R&D activity, then the rental costs for the space might be considered a qualifying expense.<\/p>\n\n\n\n
Cloud computing costs<\/h3>\n\n\n\n Cloud computing costs incurred for the qualifying R&D activity are eligible for R&D tax credits.<\/p>\n\n\n\n
Royalty Payments<\/h3>\n\n\n\n Expenditure on royalty payments may qualify provided they are for the purposes of R&D subject to requirements. More specifically, expenditure is not allowable where it includes amounts paid to connected persons and which is, income from a qualifying asset for the purposes of the Knowledge Development Box for the recipient.<\/p>\n\n\n\n
Can we claim for R&D expenditure R&D on our existing business operations?<\/h2>\n\n\n\n It depends. Companies can claim an R&D tax credit for qualifying research and development expenses that are part of their existing business operations. However, only additional costs for R&D activities are eligible.<\/p>\n\n\n\n
What doesn\u2019t qualify as R&D expenditure?<\/h2>\n\n\n\n Aside from the exceptions detailed above, some examples of expenditure are clearly defined as not being eligible for tax credits. These include general overhead costs such as:<\/p>\n\n\n\n
\ncatering<\/li>\n\n\n\n recruitment<\/li>\n\n\n\n insurance<\/li>\n\n\n\n travel<\/li>\n\n\n\n maintenance<\/li>\n\n\n\n broadband and telephone costs<\/li>\n\n\n\n bank charges<\/li>\n\n\n\n other indirect overheads<\/li>\n<\/ul>\n\n\n\nHow Leyton can help<\/h2>\n\n\n\n At Leyton, we combine our knowledge of tax credits and exemptions with field experience of research and development in a variety of different engineering, technical and scientific fields. This means that we’re able to work through the details of your innovative projects to uncover qualifying R&D expenses that might have otherwise been missed. This can result in substantial savings for your business. <\/p>\n\n\n\n
Speak to one of our experts<\/a> to find out how we can help your team identify qualifying R&D expenditure.<\/p>\n\n\n\n\n","protected":false},"excerpt":{"rendered":"If your business is carrying out research and development (R&D), there\u2019s a good chance that you\u2019ll be able to claim tax credits for your innovations. The R&D Tax Credit is calculated as 25% of qualifying expenditure (increasing to 30% for accounting periods beginning on\/after 1 January 2024), which can deliver significant savings for your business. […]<\/p>\n","protected":false},"author":1,"featured_media":960,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[99],"tags":[],"expertise":[171],"class_list":["post-959","article","type-article","status-publish","format-standard","has-post-thumbnail","hentry","category-rd-tax-credits-en","expertise-rd-tax-credits"],"acf":[],"yoast_head":"\n
Qualifying R&D expenditure: What can you claim? - Leyton Ireland<\/title>\n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n\t \n