Research, Development &
Depending on where a company is on its R&D journey, eligibility for the following should be considered:
• R&D tax credits (a 25% tax credit on qualifying expenditure)
• Knowledge Development Box tax relief (a reduced tax rate on income from qualifying assets)
Capital Allowances / Tax Depreciation
Capital allowances enable companies to claim tax relief on capital expenditure incurred on certain assets under the condition that they are used for the purposes of a trade or rental business.
They effectively allow a taxpayer to write off the cost of an asset over a period of time on property acquisitions, plant and machinery, refurbishments, alterations and extensions.
Digital Games Tax Credit
This is a refundable corporation tax credit available to digital games development companies for qualifying expenditure incurred on the design, production and testing of a digital game.