ICAS Response: Improving access to R&D tax credits for small business

ICAS has responded to the HMRC consultation on "Improving access to R&D tax credits for small businesses".

Published:
27 February 2015

Read the ICAS submission in full

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ICAS supports the introduction of an advances assurance service for small companies making their first claim for R&D tax credits.  The response focuses on a number of key issues:

  • The scope of the relief is still not well-understood and some businesses are not aware that they are eligible to claim the relief
  • The position for small and medium sized companies is complex as there are two separate schemes that might apply to a claim
  • The issues on R&D tax relief reflect wider concerns for this sector about the impact of tax complexity
  • Is the balance between relief for R&D and reliefs for other capital expenditure correct – and does it support current policy aims?

Topics

  • Consultations and responses
  • Tax

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