Spring Budget 2017 - R&D tax relief is fit for purpose
It was announced today that the Government’s review into the R&D tax relief regime has been completed and that it is both effective and internationally competitive. It has also pledged to continue to monitor international developments to ensure it remains so.
There will however be changes around the administration for the large company scheme to increase certainty and simplicity, although it is unknown what this could be.
The system provides 26% - 33% cash benefits for SMEs and 9% cash credits for large companies, for both profitable and loss making businesses.
Two years ago a comprehensive review into how to increase awareness of R&D tax relief for SMEs was carried out and it was confirmed today that further work needs to be done. This backs up the experience of MHA MacIntyre Hudson as we find that there are a significant number of businesses that could be claiming the relief that are not.
Out approach to making claims ensures that not only do businesses maximise the potential benefits, but they have no financial risk and the entire process should take no more than a couple of hours of their time.
If you are a market leader, your products are nominated for industry awards, you have highly qualified staff or you are constantly faced with technical issues and problems to solve then you could benefit.