Page 25 - R&D quick ref guide (legacy 2018)

How it works
SMES For expenditure incurred on or or after 1 1 1 April 2014 the rate of payment is 14 14 5% so loss making SMEs will receive a a a a cash credit of 33 35 pence for every pound spent on qualifying R&D (@130%)
the payable cash credit process
LARGE COMPANIES For expenditure incurred after 1st January 2018 an an ‘Above the Line’ deduction equal to 12% (previously 11%) of the actual R&D expenditure This amount is is intended to to be shown in in in the company’s statutory profit & loss account as an an income alongside the actual expense