==== EXAMPLE DATA ==== Loss per accounts: 20000 Amortisation: -15000 Enhanced R&D expenditure: 80000 enhanced at 130% = 104000 Capital allowances: 100000 => Trading loss: 209000
Total enhanced R&D expenditure: 80000 + 104000 = 184000
This company is putting in an R&D claim. The tax credit (tax relief) that could be obtained by making said claim is 14.5% of the Total enhanced R&D expenditure, i.e. 184000 @ 14.5% = 26680 ==== END OF EXAMPLE DATA ====
Unrelieved loss: My understanding is that the unrelieved loss would be 209000 - 26680 = 182320
Am I correct? If not, why not and what is the correct calculation? How do I record it in QB exactly?
Many thanks in advance, Alex.
p.s. Ultimately I want to compute the surrendable loss, which is the lower value of the total enhanced r&d expenditure and the unrelieved loss.
Calculation of unrelieved loss in (with R&D relief)
Hi @alexwt , i see your post in wave community too. But i just know that ; a trading loss must be quantified with HMRC (i.e. accounts and tax computations must be prepared and submitted) before any loss relief can be considered. Cheers.
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