The 2011 Budget saw some improvement to the situation regarding research and development tax relief available to SMEs.?
HMRC announced that:
?Legislation will be introduced in Finance Bill 2011 to increase the additional deduction for qualifying R&D expenditure given to SMEs in computing business profits or losses for corporation tax purposes. Subject to State aid approval, the additional deduction will increase from 75 per cent to 100 per cent of the qualifying R&D expenditure: a total deduction of 200 per cent.
Subject to State aid approval, legislation will be introduced in Finance Bill 2012 to increase the additional deduction by a further 25 per cent giving a total deduction of 225 per cent from 1 April 2012, and, subject to consultation, to simplify the rules of R&D tax relief for SMEs.?
This change has now been approved by the European Commission and should therefore now proceed to take affect in 2012.
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Source: http://blog.stratagemipm.co.uk/2011/09/21/rd-tax-relief/
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