Budget 2015- Reducing funding for charities
The R&D Expenditure Credit (“RDEC”) enables a company to obtain a cash saving of c.8-9% of spend on relevant research and development activities. If a company is not tax paying this cash can be received in cash. This includes companies such as charities and universities where the profits are exempt from tax.
However for expenditure from 1 August 2015, charities and universities will no longer be able to claim.
MHA MacIntyre Hudson are currently working with a number of charities to enable them to claim this valuable relief and are one of the most experienced firms in doing so. There is a time limit to claim the RDEC and therefore if you are a charity that undertakes research or development then this should be looked at now to ensure you can claim the maximum benefit.
For details on how to claim please contact Tom Byng.