Research & Development (R&D) credits – still a low take up
The Treasury has recently issued figures that show only 10,000 SMEs claimed R&D tax relief for 2011/12.
Currently SMEs can benefit from tax relief of 225% on qualifying costs. In order to qualify, companies have to demonstrate the scientific or technological advance they are seeking but in innovative companies, e.g. in manufacturing, this should not be an issue.
It is concerning that many businesses are still unaware of their ability to make a claim.
Date: 20th January, 2014
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