Paragraph 5 The relevant R&DF1

(1)

The following information in relation to the research and development to which the claim relates.

(2)

The number of projects undertaken.

(3)

In relation to each relevant project—

(a)

a name by which the project can be referred to;

(b)

words identifying the field of science or technology with which the project is concerned;

(c)

a description of—

(i)

the scientific or technological knowledge that existed when the project began and that the project aimed to improve upon;

(ii)

the advance in scientific or technological knowledge that the project aimed to achieve;

(iii)

the scientific or technological uncertainties that the project faced;

(iv)

how the project sought to overcome those uncertainties.

(4)

For the purposes of sub-paragraph (3)—

(a)

if the number given under sub-paragraph (2) is 3 or less, each of the projects is a relevant project;

(b)

if the number is more than 3, subject to paragraph (c)—

(i)

the company must select 3 or more projects to treat as relevant projects, and

(ii)

those projects must together account for at least half of the qualifying expenditure in respect of which the claim is made;

(c)

if—

(i)

the number is more than 10, and

(ii)

complying with paragraph (b) would lead to more than 10 projects being treated as relevant projects,

the 10 projects accounting for the 10 highest shares of the qualifying expenditure in respect of which the claim is made (but only those projects) are relevant projects.

(5)

If the claim relates to an accounting period beginning on or after 1st April 2024, whether the research and development was undertaken—

(a)

entirely in the United Kingdom,

(b)

entirely outside the United Kingdom, or

(c)

partly in and partly outside the United Kingdom.

(6)

If the claim relates to an accounting period beginning before 1st April 2024, whether or not the research and development was undertaken entirely in the United Kingdom.

Annotations

Textual amendments

F1: Sch. 2 paras. 1-10 substituted for Sch. 2 paras. 1, 2 (2.10.2024) by The Research and Development Relief (Information Requirements etc.) Regulations 2024 (S.I. 2024/950), regs. 1(2), 2(2)