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Research and Development

The UK’s R&D tax credit regime is one of the most attractive in the world. There is now evidence of the significant impact that the scheme has had, since its inception in 2000.

The Government’s on-going drive to encourage businesses to invest in research & development has resulted in increased rates of tax relief available to UK companies with Finance Act 2014 increasing the repayable credit under the SME scheme from 11% to 14.5% effective from 1 April 2014.

The scheme gives higher rates of corporation tax relief on allowable R&D costs. It also includes a repayable tax credit in some cases, which can often be a lifeline to early stage businesses.