Boost in Tax relief for SME research and development
3 December 2014
Sally Jones, Director at Deloitte comments on increases in tax relief for research and development costs:
“This is a small but significant increase in tax relief for a business looking to innovate. If we took an SME in its early loss making stage, with a R&D spend of £500,000, it could get up to £166,750 of cash back from HMRC (an increase of £3,625 as a result of the uplift). These increases in R&D relief for both SMEs and large companies, emphasise the commitment of the Government to innovation.”
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Notes to editors
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
Member of Deloitte Touche Tohmatsu Limited.