New R&D tax relief claim arrangement to become law in autumn
The Government has announced that from autumn this year it will abolish the need for small businesses to own any intellectual property resulting from research and development (R&D) before they can claim additional tax relief.
The new rule can be applied to any expenditure during an R&D accounting period ending on or after 9 December 2009, and is expected to benefit small firms and contractors carrying out research for larger organisations.
For more on this story go to:
http://www.ipo.gov.uk/ipinsight-201008-2.htm
For HM Revenue & Customs guidance on the subject go to:
http://www.hmrc.gov.uk/ct/forms-rates/claims/randd.htm
