R&D archive
New guidelines on the meaning of R&D for tax purposes
The Secretary of State for Trade & Industry published the new guidelines on the meaning of research and development for tax purposes on 5 March 2004. The new guidelines (PDF, 191 Kb) were subject to extensive consultation with business and finance professionals and are intended to provide companies with a simplified and clearer definition of R&D for tax purposes. The DTI and HM Revenue & Customs issued a joint consultation document on the subject in July 2003. The revised guidelines represent an important step towards giving UK companies greater confidence to invest in creating high value-added products and services.
The previous guidelines (PDF, 120 Kb) on the meaning of research and development for tax purposes issued in July 2000 continued to be the UK's definition of R&D for tax purposes until 31 March 2004, and the new guidelines came into effect in April 2004.
Historic Information on R&D tax credits
A comprehensive list of historic documents showing how R&D tax credits have developed can be found on the HM Revenue & Customs Website.
