Research and development tax reliefs provide support to innovative companies and encourage R&D investment. Bradley Mitchell (Smith & Williamson) provides a back to basics guide.
The UK is internationally recognised as a leader in the fields of scientific research and innovation. The government appears committed to maintaining and evolving this status as shown by the its target of ‘increasing UK investment in R&D to 2.4% of GDP by 2027 and to increase public funding for R&D to £22bn per year by 2024 to 2025’.
Both the SME and large company schemes are intended to ensure that tax relief effectively supports genuinely innovative companies whilst preventing abuse of the financial incentives.
In their current forms R&D...
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Research and development tax reliefs provide support to innovative companies and encourage R&D investment. Bradley Mitchell (Smith & Williamson) provides a back to basics guide.
The UK is internationally recognised as a leader in the fields of scientific research and innovation. The government appears committed to maintaining and evolving this status as shown by the its target of ‘increasing UK investment in R&D to 2.4% of GDP by 2027 and to increase public funding for R&D to £22bn per year by 2024 to 2025’.
Both the SME and large company schemes are intended to ensure that tax relief effectively supports genuinely innovative companies whilst preventing abuse of the financial incentives.
In their current forms R&D...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")