Crush Ltd is a UK resident company which is developing a range of recycling processes to deal
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Crush Ltd is a UK resident company which is developing a range of recycling processes to deal with waste paper, plastic and glass. Crush Ltd is a small company for research and development purposes. Crush Ltd took out a loan on 1 April 2022, to fund a qualifying research project during the year ended 31 March 2023. Interest payable on the loan was £7,800. The company spent £140,700 on the research project, which comprised £70,700 on staff costs, £67,000 on new machinery and £3,000 on computer software.
Explain the corporation tax consequences of this expenditure.
Related Book For
International Business
ISBN: 9781292274157
8th Edition
Authors: Simon Collinson, Rajneesh Narula, Alan M. Rugman
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