Improved access

One of the first announcements on HMRC’s newly developed digitalised website was the consultation upon the accessibility of research and development (R&D) tax credits for small businesses. (See Improving Access to UK Research and Development Tax Reliefs for Small Businesses).

Burying bad news? Like most tax advisers we have been swept up in the 31 January tax return fervour but will be feeding into the consultation before it closes at the end of February.

It has been some time since the last consultation on R&D which culminated in the publication of the Dyson Report in March 2010 and dramatic increases in R&D reliefs over the next four finance acts.

Just to recap R&D tax credits and tax reliefs are available to smaller and medium-sized companies (rather than businesses) for expenditure on a narrow range of costs linked to furthering scientific or technological...