The following piece was originally published in BQLive Magazine

Whether it’s the first time or the fifth time your company has submitted an R&D tax credit claim, rather than receiving your cheque from HMRC, you might get a wordy letter.
It goes something like this: “The BIS Guidelines refer to an advance in science or technology as an advance in overall knowledge or capability in a field of science or technology (not a company’s own state of knowledge or capability per se). “It is important to note that a process, material, device, product, service or source of knowledge does not become an advance in science or technology…..

You can read this piece in its entirety on BQLive.co.uk