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.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states