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R&D Tax Credits

John Searle of the KPMG LLP (UK) research and development tax relief group explores the potential for further changes to improve Research and Development relief for SMEs

 
John Searle of the KPMG LLP (UK) research and development tax relief group explores the potential for further changes to improve Research and Development relief for SMEs
 
In the Finance Bill 2003 the Chancellor announced his intention to improve the Research & Development (R&D) tax relief schemes for both SMEs and large companies increasing the availability of the scheme and simplifying the guidelines. While these changes are welcome a question must be raised as to whether they address the problems at the root of the scheme and whether they go far enough to encourage companies to claim R&D tax relief.

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