Tax Relief quiz 0.0 / 5 ? AccountingTax reliefOtherOther Created by: TBATCPH2Created on: 14-03-20 17:32 To get R&D relief someone would need to explain how a project Could not be easily worked out by a professional in the field 1 of 12 Your project must show that a professional..... In the in the related field could not have easily have worked out you advance 2 of 12 How could you show a professional could not have worked out an advance? Showing that other attempts to find a solution had failed 3 of 12 You can claim SME relief with less than how many staff? Less than 500 staff 4 of 12 You can claim SME relief with less than how much turnover a turnover of under 100 million euros or a balance sheet total under 86 million euros 5 of 12 SME R&D relief allows companies to deduct an extra 130% of their qualifying costs from their yearly profit, as well as the normal 100% deduction, to make a total 230% deduction 6 of 12 SME R&D relief allows companies to claim a tax credit if the company is loss making, worth up to 14.5% of the surrenderable loss 7 of 12 Research and Development Expenditure Credit (RDEC) is for what size companies Large companies or SMESs who’ve been subcontracted to do R&D work by a large company. 8 of 12 he RDEC is a tax credit for 11% of your qualifying R&D expenditure 9 of 12 For SMEs the company is connected to another one if: t holds over 50% of the voting rights in another company 10 of 12 For SMEs the company is connected to another one if: another company holds over 50% of the voting rights in your company 11 of 12 For SME Relief you have a partner company if another company holds over 25% of your voting rights or capital 12 of 12
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