To describe an intangible asset in simpleton terms would be as follows:
An intangible asset is a property of a company or conglomerate that has no physical, or tangible form. In contrast, tangible assets would be the company’s material holding with the likes of a building structure, land, tools, transport vehicle, and stocks as well. They do exist as elements that are essential properties for a company, however, since they can be deal with physically, they do not qualify as intangible.
Simply stated, intangible assets are assets that cannot be touched physically. Common examples are intellectual property such as ideas and strategies, a company’s reputation, rights to copyright and franchising, license agreements and development secrets, etc.
R&D Tax Credits claim for capitalised expenditure might seem confusing but our R&D tax credits team can solve this puzzle for you. You can contact our R&D tax Relief specialists and they will aid you in assessing eligible costs for an R&D claim. Our R&D tax credit specialists will help you identify hidden eligible costs, will find the perfect scheme for you and will submit the claim on your behalf so you don’t have to worry about the process. Furthermore, our R&D tax credits team specializes in covering all eligible costs for your R&D tax relief claim, with each professional expertly highlighting any opportunity through which you can be reimbursed with your R&D tax credits to the maximum.