Manufacturers are being urged to explore whether upgrades they have implemented can earn them a slice of a £300m pie made available through research and development tax credits.
James Stephens, a senior manager in Ernst & Young’s corporate tax team, said companies may not know that ventures they have already carried out could qualify them for the scheme. Under the regulations businesses can deduct up to 175% of their R&D spend from their tax bill. “Experience has shown that ‘R&D’ for tax purposes…
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