Calls for R&D tax relief to be protected in emergency budget

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Calls for R&D tax relief to be protected in emergency budget

Simon Quicke
The wish list for next week's emergency budget is growing with calls for less of a tax burden for small firms and a commitment to maintaining investment in technology.

The Chancellor George Osborne will deliver his emergency budget next week with a focus on cutting costs to try and bring the public deficit under control. He will be setting the scene by giving a speech at the Mansion House tonight.

But various business groups have already raised concerns that harsh measures will harm the recovery. One of the latest to give an opinion has been Niki Dixon, head of technology at Grant Thornton UK LLP, who lists a few areas of concern including the contentious area of tax relief for companies.

"We hope that there will not be a reduction in the availability of R&D relief as it plays such an important role in stimulating the technology sector, and the wider economy," she said.

"The Coalition Agreement stated that the Government would consider implementing the recommendations of the Dyson Review. Focusing the relief on small firms and start-ups will be of benefit, particularly if the repayable tax credit is enhanced, as this will give companies assistance when additional cash is needed most," she added.


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