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Finance Act 2022 introduced the R&D Tax Credit for Collaborative Research to encourage R&D in partnership with research centres.
From 1 January 2022, all industrial, commercial, craft and agricultural companies subject to corporation tax will be eligible for the R&D Tax Credit for Collaborative Research. This new scheme has been introduced to compensate for the abolition of the doubling of the base for expenditure on subcontracting to public bodies or bodies treated as public in the research tax credit (CIR) and to preserve private-public partnerships.
For a project to be eligible, it must meet all five R&D Tax Credit criteria:
To qualify, an effective research collaboration agreement must be established with a research and knowledge dissemination organisation (RTD organisation) before the start of the R&D activities.
The agreement must include:
A research and knowledge dissemination organisation is eligible under the CICo scheme only if it holds :
We schedule a meeting to discuss your ongoing R&D projects in order to assess their eligibility according to the criteria presented.
Once the eligible projects have been selected, we calculate all associated expenses according to the items presented.
We compile the technical and financial justification file presenting the selected projects for year N along with the valued expenses.
In the event of a request for additional information or a tax audit, we will assist you until you obtain your RTC.
Eligible expenditure for the Research Tax Credit for Collaborative Research (CICo) corresponds to costs incurred within the framework of a collaboration agreement signed with an Organisation for Research and Knowledge Dissemination (ORDC).
To qualify, the ORDC must meet the definition established by the European Commission in Communication No. 2014/C 198/01.
Only collaboration agreements concluded on or after 1 January 2022 are eligible for the scheme.
Eligible expenditure includes costs directly related to the collaborative R&D project, such as:
Only expenditure strictly related to the collaborative research activities carried out under the agreement is eligible.
The CICo is calculated based on expenditure invoiced during the calendar year, regardless of the company’s fiscal year-end.
For companies closing their accounts during the calendar year, the CICo is calculated based on eligible expenditure incurred during the last completed calendar year.
Expenditure that has already been used for other public funding schemes cannot be double-counted under the CICo.
The amount of eligible expenditure must be reduced by any public aid received by either the company or the ORDC for the same collaborative research project.