TIB - October 2019
In this issue: New legislation, BR Pub 19/04, QB 19/12 - 14, OS 19/04a, OS 19/04b, DEP104, Legal decisions - case notes
CorrectionsTaxation (Research and Development Tax Credits) Act 2019: the rationale provided for the exclusion applying to above market value good and services (Schedule 21B Part B Clause 17) at the bottom of page 28 has been clarified.
It should read:
"This provision is intended to apply broadly, so applies to transactions with associates and third parties. The amount paid which exceeds the market value is not eligible expenditure".