Business Tax: How to claim SME R&D Allowance or Expenditure Capitalization
- Article ID
- business-tax-claim-sme-rd-allowance-or-expenditure-capitalization
- Article Name
- Business Tax: How to claim SME R&D Allowance or Expenditure Capitalization
- Created Date
- 12th August 2021
- Product
- Problem
- How do you claim SME R&D Allowance or Expenditure Capitalization in IRIS Accountancy Suite Business Tax
- Resolution
-
In IRIS BT a SME R&D Allowance or Expenditure Capitalization is known as ‘R&D Allowance’:
- Select “Capital Allowances”
- Select “A – Maintain Assets”
- Insert or Change an asset
- Tick the box on bottom left – ‘Qualifies as a R&D Allowance’. In the Tax comp under the Trade Profit (loss) section it will appear as a ‘less’ amount value under the title Capital Allowances. This will usually automatically fill in box 725 and 760 on the Tax return (for LTD)
- ‘Qualifies as a R&D Allowance’ tick box will claim the whole capital allowance WDA amount of the asset entered
- Select “Capital Allowances”
We are sorry you did not find this KB article helpful. Please use the box below to let us know how we can improve it.
