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‘Above the line’ research and development credit: consultation

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HM Treasury has invited comments on an ‘above the line’ research and development credit for large companies, to be introduced next year.

‘The government is committed to encouraging research, development and innovation in order to achieve higher growth. We will ensure that the UK is an internationally competitive environment for all companies to innovate,’ said David Gauke, Exchequer Secretary to the Treasury. ‘The ATL credit for R&D will encourage large company research and development, and ensure that the UK continues to be one of the most attractive places in the world to undertake R&D.’

The consultation will close on 29 June.