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%. Losses cannot besurrendered for a payable credit.