22nd May 2012
Tax Credits For Businesses With R&D Spend
25th Jul 2006
SME companies with qualifying spend on R&D can claim a tax repayment even if they have not paid any corporation tax.
R&D tax credits were introduced in 2000 for SMEs and 1.3 million has been reclaimed so far. Up to 24% of R&D spend can be reclaimed - useful in the early years or if losses are made. The relief is available for staff and consumables, not rent or rates. Also the R&D must comprise a project that seeks to achieve an advance in science or technology.
For details contact tax expert Richard.lewis@provonotech.com or www.i10.org.uk/services/research
