R&D Tax Credits: Results - and Further Consultation
Monday 13 June 2011
The Government has published its response to the 2010 R&D tax credits consultation which closed on 22 February 2011.
This formal consultation on the support R&D tax credits provide for innovation and the proposals of the Dyson Review was held in 2010-11.
A summary of responses to that consultation was published on the 10th June and, at the same time, the Government announced a further consultation, with reference to the following items, arising out of the first consultation:
- Above the line credit
- The benefits of the current relief for Qualifying Indirect Activities
- Subcontracted R&D - giving the relief for "routine" activities by subcontractors which would qualify as part of the customers's project
- Removal of PAYE / NICs cap - need for revenue protection measures
- "Going concern" definition - alignment with EIS/VCT definition
The deadline for comments for this second consultation is the 2nd September.
Further Information
R&D Tax Credits: Response & Further ConsultationHM Treasury: R&D Tax Credits