SMEs and the R&D expenditure credit

Where an SME can claim the SME R&D relief it should choose to do so, rather than claiming the R&D expenditure credit, as the SME relief is substantially more generous. This is because of the higher rate of relief and because, for a loss-making SME claiming the SME relief, the resulting loss can be surrendered for repayment at a better rate than under the R&D expenditure credit.

However, where an SME cannot claim the SME R&D relief, it should consider whether it can claim the R&D expenditure credit.

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