Technology Sector: What I hope will be announced in the budget #budget2013
My colleagues ran a series of blogs recently on the taxation of intellectual property.
The Patent Box regime commences 1st April 2013 and Companies could make considerable Corporation Tax savings from the new regime.
Creative tax reliefs from 1 April 2013 will apply to Companies. The reliefs, which aim to be among the most generous in the world, providing an estimated £50m of annual funding to the creative sector.
Research and Development tax relief applies to Companies also and it would be great to see further enhancements to this relief.
The above all apply to Companies and I would like to see some form of these being able to apply to sole traders, partnerships and LLP’s.
I would like an updated plan for growth (page 34,35 and 36) to show progress as to how businesses can access finance and more support on issues relating to intellectual property.
A recent round table article I read highlighted Banks’ support of technology firms as ‘woeful’
The Seed Enterprise Investment Scheme announced last year has been beneficial but more breaks need to be available to help start-up Companies attract business finance.
A further extension of Enterprise Zones such as the zone at Daresbury would be welcomed to enhance sector clusters.
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