FA 13 introduced an 'above the line' credit for large companies for research and development (R&D) expenditure incurred on or after 1 April 2013.
The expenditure credit scheme will run alongside the current large company scheme until 31 March 2016 when the large scheme will cease.
HM Revenue & Customs (HMRC) has published draft guidance to help customers understand how the proposed new rules would work.
HMRC has also published draft notes to expenditure credit and draft examples 1 to 3.
Comments on the guidance are welcome and should be sent to:
CTISA, CT Structure Incentives and Reliefs
100 Parliament Street
Or please email HMRC using the link below.
The deadline for comments on this draft guidance, notes and examples is 31 January 2014.