1st February: R&D Tax Credits Consultation Workshop
Friday 21 January 2011
R&D tax credits are primarily a tax incentive and the biggest single funding mechanism provided by Government for investment in business Research & Development.
All companies spending at least £10,000 in their accounting year on qualifying R&D are entitled to claim a deduction when calculating their taxable profits of:
- 175% of qualifying expenditure for SMEs or
- 130% of qualifying expenditure for larger companies
reducing the company's UK corporation tax bill accordingly.
R&D tax credit claims totalled £980m in the financial year ending 31 March 2010 with ca 80% of claims made by Small and Medium sized Enterprises (SMEs), with the average claim totalling ca £115,000.
This free workshop will look at the support that the UK R&D tax credits schemes provides for increasing technological innovation and forms part of the Government consultation process formally launched by the Chancellor on the 29th November (and closes on the 22nd February).
This is not an Innovation Network event; this workshop has been arranged by the Welsh Assembly Government and is open to businesses and their advisers. The event is being held at the QED Centre in Treforest, between 13.30 and 16.30 on the 1st February.
Further Information & To Register
Tax Credits Consultation Workshop