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Credit Where Due

 
Ross Wilkinson and Kevin Hindley director and associate director respectively of Chiltern plc's R&D tax solutions team describe the latest developments in R&D tax credits
 
According to HM Revenue & Customs (HMRC) the aim of research and development (R&D) tax credits is to encourage greater R&D spending in order to promote UK investment in innovation. Between April 2000 and April 2005 around 17 000 claims for R&D tax credits were made with around £1.3 billion of support claimed.
 
The Government has an ambitious target to increase the overall level of R&D investment in the UK from 1.9% to 2.5% of GDP by 2014. The R&D tax credits regime is seen as a major incentive to attract companies to spend more on R&D in order that this...
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