Intellect thumbs up for Browns R&D tax breaks
But more definition, please
Intellect, the hi-tech industries’ trade association, has welcomed the Government’s proposals to improve the R&D tax credits system, in its response to Chancellor Gordon Brown's Pre-Budget report.
Tom Wills-Sandford, Intellect campaigns director said: “The steps announced today will provide increased incentives to multi-national organisations considering the UK for their R&D efforts, and ensure that British hi-tech businesses are better placed to develop and produce the innovative products and services they need to compete in the global economy.”
However, Wills-Sandford asked for further consultation on the Government’s precise definition of R&D. He also called for a clarification that the “wider range of benefits” announced would raise the effective research tax break to the level of 10 per cent which Intellect claims is the minimum level at which UK firms can compete globally. ®