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How to enter Research and development

Article ID
ias-11842
Article Name
How to enter Research and development
Created Date
21st October 2014
Product
IRIS Business Tax
Problem
How to enter Research and development for enhanced expenditure, above the line and creative industries
Resolution
Go to Data Entry | Enhanced Expenditure | ADJ trade profits by – qualifying expenditure multiplied by 125% or 130% | CT600 – qualifying expenditure multiplied by 225%/ 230% The tax credit claim figure will be the lower of the CT600 figure entered in Enhanced Expenditure and the financial trading loss made in the year on the computation, multiplied by 11% (pre April 2014) or 14.5% (post April 2014). Go to Data Entry | Calculation | Tax Reconcilliation | Edit next to box 87/545 – enter tax credit claim To make repayment claim go to Data Entry | Summary | Tick box for repayment claim Can also add a narrative in Edit | Notes – can enter supporting notes with calculation OR — Please refer to our online document library, where you will find how to guides for entering the different types of Research and development. For more information on how to enter different Research and Development please visit the IRIS Help Centre which can be found on the IRIS website. For Entering Research & Development for Creative Industries click here For Entering Research & Development above the Line Tax Credit here

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