The Tories have ditched plans to scrap tax incentives for research and
development if they win the general election expected on 6 May.
Party leader David Cameron welcomed a report proposing the u-turn from
opposition industry ‘Czar’ Sir James Dyson on how to rebalance the UK economy
away from over-dependence on the City.
Cameron said the Dyson Report “represents an exciting and ambitious step
forward in our desire to make Britain Europe’s leading generator of new
Shadow chancellor George Osborne has previously proposed scrapping most of the
corporation tax breaks in order to fund a reduction in the headline rate of tax
spokesman said a Tory government “will keep R & D tax credits” refocused
along lines proposed by Dyson, who urged that when public finances allow the
rate of the relief should be increased to 200%.
The beneficiaries would be “high tech companies, small businesses and new
start-ups “in order to stimulate a new wave of technology”.
Dyson also proposed increasing the generosity of the Enterprise Investment
Scheme providing relief for “angel” investors.
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