Those Nice People at HMRC Have Some Money For You…
David Butler says… | The leaders of UK plc have determined that the future economic health of the country is at risk because not enough innovatory work is going on. They fear that Europeans, and specifically the British, will be the ones employed in low-grade sweated jobs in future. The Research & Development Tax Credit scheme (RDTC) offers companies large and small a reduction in their burden of corporate taxation in respect of any ground-breaking and innovatory work they undertake. In the HMRC definitions Research & Development is not restricted to abstruse laboratory work but is defined much more widely. The problem is that take-up of the scheme in the UK is lower than in many other countries, particularly for SMEs. And yet the scheme actually offers specific opportunities to the SME sector, mentioning engineering, and science based developments, IT software and systems of all sorts and business process improvement. Yet a surprising number of players in this section of the business world are ignorant of what it offers. |
After a successful run of over 12 years Butler Basford and Lord Limited have ceased trading in the field of R&D Tax.
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