Tax Relief quiz

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  • Created by: TBATCPH2
  • Created on: 14-03-20 17:32

1. 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
  • deduct an extra 140% of their qualifying costs from their yearly profit, as well as the normal 100% deduction, to make a total 240% deduction
  • deduct an extra 120% of their qualifying costs from their yearly profit, as well as the normal 100% deduction, to make a total 220% deduction
  • deduct an extra 130% of their qualifying costs from their yearly profit, as well as the normal 90% deduction, to make a total 220% deduction
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Other questions in this quiz

2. 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
  • claim a tax credit if the company is loss making, worth up to 16.5% of the surrenderable loss
  • claim a tax credit if the company is loss making, worth up to 14.5% of the surrenderable gain
  • claim a tax credit if the company is loss making, worth up to 16.5% of the surrenderable gain

3. You can claim SME relief with less than how many staff?

  • less than 100 staff
  • Less than 250 staff
  • Less than 500 staff
  • less than 750 staff

4. he RDEC is a tax credit for

  • 10% of your qualifying R&D expenditure
  • 11% of your qualifying R&D expenditure
  • 12% of your qualifying R&D expenditure
  • 13% of your qualifying R&D expenditure

5. Research and Development Expenditure Credit (RDEC) is for what size companies

  • Companies with less than 500 staff only
  • Large companies or SMESs who’ve been subcontracted to do R&D work by a large company.
  • Small companies only
  • Large companies only

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