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Small firms raise spending on innovation to grab tasty tax breaks

Following the Government’s efforts to increase research contributions of smaller firms by offering bigger tax incentives to help with growth prospects, many SME’s are prioritising investment in innovation and information technology. The Government’s efforts appear to be working well, with an almost 30% rise in the amount of claims submitted from the previous year, the highest it has been since the scheme started in 2000.

Research and development tax director at accountants Baker Tilly, Andy Nash, had this to say - “Perceptions are changing and many SMEs are realising that R&D tax relief isn’t just for the manufacturing or tech sectors and can apply to many other sectors that are developing innovative products or processes.”

To view the whole story, click on this link: www.telegraph.co.uk

Published : 8/18/2014

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