Response to tax credits condoc
The government has published its response to the 2010 research and development (R&D) tax credits consultation. This consultation seeks views on proposals to simplify the schemes and make them more effective.
They include the relief for qualifying indirect activities; how to give relief for subcontracted routine activities; the removal of the PAYE/National Insurance cap and potential changes to the ‘going concern’ definition.
Comments are also welcome on the proposal put forward by a number of companies to move from the current ‘super-deduction’ system to one which delivers a credit against tax.
Responses are required by 2 September 2011.
