Previously CT600 form required limited information for R&D Tax relief claims whereas this new CT600L form requires numerical details from the companies. Following are page-wise details of the CT600L form, so you can understand the required information.
CT600L Page 1:
The first page of the CT600L is confined to some administrative detail about the claimant’s project and company, which was also required on the main corporation tax return.
Page 2 & 3:
The next two pages are concerned with the companies claiming R&D Tax Relief via the RDEC scheme. It has seven steps break down for the calculation of R&D Tax Credits.
- Step I: The first step is the precise calculation of Research & Development Expenditure Credit (RDEC) set against CT liability.
- Step II: The second step inculcates the calculation of the estimated tax charge.
- Step III: The third step has your company’s expenditure on workers (PAYE) who are directly involved in the R&D project and estimated insurance contributions
- Step IV: RDEC will balance against outstanding Corporation Tax liabilities
- Step V: Under the fifth step of the calculation, you will provide the amount yielded to the group members.
- Step VI:
- Step VII: The last step has Payable Research & Development expenditure credit (RDEC)
After concluding these seven-step calculations and summarising any amount carried forward or dropped, there is the last page.
Page 4: The last page is for businesses making R&D Claim for R&D Tax relief or R&D Tax Credits and also summarizes the total amount of R&D Tax credits