Emergency Budget 2010: Retrospective R&D changes
For once retrospection is good news. The Chancellor has confirmed that the requirement for Small and Medium sized companies to own the Intellectual Property resulting form their R&D work is being abolished with effect from accounting periods ended on or after 9 December 2009.
Incidentally SMEs are those with less than 500 employees and annual turnover of less than €100 million or a balance sheet total of less than €86 million.
I am hopeful that the review based on the Dyson report will bring further good news.
Date: 22nd June, 2010
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