Reminder about the consultation paper to address R&D tax credit abuse. Recall that one of the proposals is to cap tax credits to 3x a company’s PAYE/NIC liability (see our previous post on this). This article highlights a good example of a sector that would be adversely affected by this proposal, ie life sciences, who tend to not have a large headcount. It’s crucial you have your say if you are affected. The Government wants you to. The consultation period closes on 24 May 2019.
View the article here: https://www.out-law.com/en/articles/2019/april/proposed-cap-on-rd-tax-credits-life-sciences-smes/
View the Government consultation paper here: https://www.gov.uk/government/consultations/preventing-abuse-of-the-rd-tax-relief-for-smes
We can provide you with an R&D tax credit advance loan. See our home page for details: https://www.rockinghorsegroup.co.uk