If​ ​you​ ​carry​ ​out​ ​R&D​ ​the​ ​budget​ ​could​ ​have​ ​brought​ ​good​ ​news​ ​for​ ​you
It’s been just over a week since the Autumn Budget was delivered. Something you might have missed is an increased benefit for companies that carry out Research and Development (R&D).

Increasing the amount of R&D carried out by companies is a key part of the government’s aim to increase productivity and promote growth.

To help companies continue to do this, the government has announced a new measure to increase the tax relief for large companies (and small and medium sized enterprises in some cases) that carry out qualifying R&D, and claim the Research and Development Expenditure Credit (RDEC). 

The RDEC (also known as the ‘Above the Line’ credit) is a standalone credit that is brought into account as a receipt in calculating profits. The current general rate is set as 11% of qualifying R&D expenditure.

Following announcements in the budget, this is now due to increase from 11% to 12% for expenditure incurred on or after 1 January 2018.

Hargreaves Owen can help with RDEC claims and any questions you may have, so for advice tailored to you, give us a call on 01462 791079 or email us at info@hargreavesowen.co.uk.

Get in touch - If you'd like to find out more about how we can help you and your business pay less tax, generate more profits and create long-term wealth for you and your family, please get in touch now