RIFT Research & Development are delighted that the Chancellor has recognised the important role innovative companies play in the UK economy. We were interested to read in yesterday’s announcement that the relief SMEs can claim on qualifying research and development (R&D) expenditure will increase from 225% to 230%.
The changes take effect from 1 April 2015,and draft legislation on this measure is expected to be released on 10 December 2014. This is great news for innovative SME’s wanting to improve their cash flow position and to continue the investment into new technology and products.
An advance assurance scheme for small businesses making their first claim to R&D tax credits will be introduced along with new guidance.
The foundations of UK construction are rooted deeply in innovation. The same tools and attitudes that push challenging projects to completion up and down the country each year are currently being reli...