ICT companies could be in line for a tax boost from R&D
The Government believes that high-tech companies will be a key component of the private sector led recovery and has made a commitment to make the UK the most attractive place to invest in innovative technology companies.
It is positive that the Government is seeking to improve the regime, and many welcome measures have been put forward. Companies in the ICT sector may now wish to review their activity in order to identify the potential tax relief available. The R&D tax relief regime is designed to encourage investment in innovation in the UK and Scotland’s ICT sector is an integral part of that.
As part of its growth strategy, the Government announced a number of changes in the 2011 Budget designed to improve the R&D tax relief regime and is currently consulting on further potential measures of improvements. There has never been a better time for companies in the ICT sector to consider their entitlement to this valuable relief.
In the PDF below, Jim Purdie, Director and Angela Craig, Manager of KPMG’s National R&D Tax Relief team, discuss the recent developments in the relief most likely to be relevant to the ICT sector in Scotland.
