In the Autumn Statement in December 2014 the Government announced consultation on improving R&D tax credits which was aimed at focussing on the needs of smaller companies. This has recently been published and focusses on what are considered to be the four key factors that affect whether companies make claims.
- Awareness of the credits
- Design of the rules
- Understanding of the rules
- Claims process & administration
The consultation document has now been published and HMRC are inviting comment from interested parties by 27 February 2015. Full details can be found here.
Kingly Brookes will be participating in the consultation and if you would like to feed any comments back to me then we can include these in our response.