Research and Development Capital Allowances, also known as RDAs, are a tax relief for businesses in the United Kingdom.
RDAs were the new name given to Scientific Research Allowances (which already existed) when the R&D Tax Credit scheme was launched in 2000.
[3] Further detail can also be found in section 1308 of Corporation Tax Act 2009[4] (which in turn updated section 53 of Finance Act 2004)[5] in relation to the revenue treatment of capitalised costs which relate to intangible assets.
This means that where a company acquires or builds property with the intention of using the property for the purposes of carrying on qualifying research and development, then most, if not all, of the expenditure involved will qualify for a 100 per cent capital allowance in the accounting period in which the expenditure is incurred.
Members of this Working Group include representatives from: HMRC and HM Treasury; industry; the financial services community including large accounting firms (PWC; Deloitte; KPMG; Ernst and Young) and independent consultants (MMP Tax); (Cashin Innovation Consulting); and representatives from professional bodies.