Autumn Budget 2017 Reaction: Research & Development
Chancellor Philip Hammond delivered his second Budget of 2017 to Parliament this afternoon. We have created a video and a series of short blogs on various tax and business related Budget announcements to help clarify some of the details behind the headlines.
Research & Development
The research and development credit claimed by large companies will increase from 11% to 12% with effect from 1 January 2018.
This will apply to large companies who claim Research and Development Expenditure Credit, RDEC (also known as ‘Above the Line’ credit). It is a stand alone credit which is bought into account as a receipt in calculating profits.
To date we have saved our clients over £8.1million in R&D tax relief claims.
Read more about R&D tax on our fact sheet and get in touch if you think you might be eligible.