FA 2012 analysis: R&D changes

Chris Harrison (Deloitte)

Chris Harrison looks at how reforms will help SMEs

The government has stated that high-growth high-tech companies will be a key component of the private sector led recovery and has made a commitment to make the UK the most attractive place to start and invest in innovative technology companies. Together with the new patent box regime it recognises that the R&D tax credit schemes are key to delivering on this commitment. Accordingly the government has in FA 2012 begun to implement a series of proposed improvements to the schemes.

With just two exceptions the changes enacted in FA 2012 largely relate to the small and medium-sized enterprises (SME) scheme (broadly applicable to companies with fewer than 500 employees).

Summary of changes

The changes legislated for...

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Chris Harrison looks at how reforms will help SMEs

With just two exceptions the changes enacted in FA 2012 largely relate to the small and medium-sized enterprises (SME) scheme (broadly applicable to companies with fewer than 500 employees).