A two-year plan aims to increase the use of research and development tax relief.
A two-year plan aims to increase the use of research and development tax relief by raising awareness among small businesses and making it easier for them to claim.
HMRC have launched the plan in response to a consultation which identified four themes – awareness design understanding and assurance – that were the key factors influencing access to the relief.
Under the first phase of the plan HMRC will:
- undertake a publicity campaign to raise awareness of advance assurance among small businesses and under-represented sectors;
- provide certainty by leaving the definition of research and development as it is instead of aligning it with the accounting definition as had been mooted; and
- issue improved guidance on the interaction of the relief and grant schemes.
As the department moves to the next phase it will be seeking the...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.