Small businesses get help on R&D tax credits

As part of HM Revenue & Custom’s
efforts to encourage small firms to take advantage of the tax relief system, the
taxman has setup seven specialist centres to provide support and guidance when
it comes to claiming Research and Development (R&D) tax credits.

The government believes that greater spending on R&D will promote
investment in innovation.

John Healey, financial secretary
to the Treasury, said: ‘R&D tax
credits are playing a crucial role in encouraging innovation in UK businesses
with more than £1.8bn having already been claimed since April 2000.’

The new units are in Cambridge, Cardiff, Croydon, Leicester, Maidstone,
Manchester and Southampton.

Further reading:

Tax credit fraud raids carried out in Scotland 

Government to review HMRC

Tax inspectors to get software training

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