CIRD88500 - R&D tax reliefs: large company scheme: claims by an SME

An SME can obtain relief under the large company scheme in certain circumstances:

• If it undertakes certain research and development as a subcontractor CIRD89500.
• For accounting periods beginning on or after 9 April 2003 where expenditure is subsidised CIRD89000. Subsidised expenditure does not qualify under the SME scheme CIRD81650.
• If it is an insurance company that carries on life assurance business CIRD89600.

The claim is for the qualifying expenditure to be enhanced by 25%, or 30% for expenditure incurred on or after 1 April 2008,. Losses cannot be surrendered for a payable credit.