Treasury owes £84bn to SMEs in R&D tax relief
The Treasury owes Britain’s small businesses a staggering £84bn in backdated Research & Development (R&D) tax relief because the tax break is so poorly advertised, tax relief specialists Catax has revealed.
Around three and a half million SMEs actively trade in the UK and 57% of them are eligible for tax credits on R&D. The policy is billed by the Government as the lifeblood of a versatile and progressive economy.
However, only around 1% of SMEs have ever claimed the relief. This means approximately 1.96m SMEs - a... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
