We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
80,258 News Articles

Budget: Brown fails to boost UK R&D

UK IT suppliers body criticizes tax credit

UK Chancellor Gordon Brown has announced an increase in the tax credit designed to encourage R&D spending by large companies - but IT suppliers' body Intellect warned that the extra 5 percent was not enough.

Brown's Budget increases the large company R&D tax credit from 125 percent to 130 percent, beginning in April next year.

But Tom Wills-Sandford, deputy director general of Intellect, said the increase would amount to around half a percentage point in real terms.

Intellect figures suggest that only around half the elements in R&D projects are eligible for tax credits, while the cut in corporation tax announced in the Budget, reducing it from 32 percent to 30 percent, will further lessen the impact of the tax credit.

See Computerworld UK for more.


IDG UK Sites

Best Christmas 2014 UK tech deals, Boxing Day 2014 UK tech deals & January sales 2015 UK tech...

IDG UK Sites

Chromebooks: ready for the prime time (but not for everybody)

IDG UK Sites

Hands-on with Sony's latest smartglasses

IDG UK Sites

Apple TV setup advice: Apple TV hacks to help you create the ultimate Apple TV hub in your home