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News - 20 January 2015

R&D tax credits consultation launched

HMRC has launched a consultation on how to improve the accessibility of Research and Development (R&D) tax credits for small firms.

The consultation focuses on improving the accessibility of Research and Development (R&D) tax credits for small companies.

It addresses the four main factors that affect whether companies make claims:

  • awareness of the credits
  • design of the rules
  • understanding of the rules
  • claims process/ administration

Stuart Coleman, Manager of the Tax Department of ABDS comments:
“The consultation will focus on the main factors affecting whether firms claim for the credits, these include awareness of the credits, the design of the rules regarding their use, how those rules are understood and the administrative process of making the claim.

The views submitted will be used to help improve the new advance assurance service. This will enable firms applying for a tax credit to gain assurance from HMRC as to whether they qualify for tax credits. The consultation closes on 27th February 2015.”

If you need any help and advice with your Tax planning and the availability of tax credits, contact Lavinia Newman, Stuart Coleman or Liz Kennett to discuss how ABDS can help in all your financial planning and business advice.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Brilliant with numbers   
Great with people  
Clear and precise with advice
Timely and cost effective 
In touch with issues that face our clients and
mindful of their long term strategic goals

Helping Your Business is Our Business

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