When it comes to R&D, ‘incurred costs’ and ‘paid costs’ are two different things in the eyes of HMRC.
Any company engaging in R&D activities and claiming tax relief will have claimed in one, if not many, eligible cost categories. Naturally, each category has a set of requirements and it's important to know what these are. For a number of categories 'incurred costs' and 'paid costs' are not the same things. In simple terms, some [...]