Taxation.co.uk: Increase to R&D expenditure credit

KEY POINTS

• The rate of research and development expenditure credit increases to 12% from January.
• The scheme is for large companies but can be used by small and medium-sized enterprises on state aid.
• It is available to loss-making companies as well as profitable ones.
• The new rate suggests that the government is committed to R&D relief.

I often joke that Budget day is to tax advisers what Christmas Day is to children. Sad, I know. If there is one difference, it is that many children tend to unwrap their big presents first before moving on to stocking fillers and selection boxes. With the Budget, it is the other way around.

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