R&D deja vu

Graham Chase, Tax Partner, CMS

Qualifying expenditure on research and development benefits from enhanced tax relief, an additional 75% is available for “SMEs”. For accounting periods ending on or after 9 December 2009 the intellectual property ownership requirement is abolished.

All good stuff. Except that this press release is simply a reissue from 9 December. The new note supersedes the ealier version. The difference? None, apart from the small note at the end. Come on HMRC – a one paragraph plain English version please.

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