MMP Tax Ltd - Response to the Autumn Statement 2014
MMP Tax applauds the government for the increase in rates for the above-the-line RDEC from 10% to 11% for large corporations, and the additional rate of credit increase from 225% to 230% for small and medium enterprises (SMEs).
Although the Chancellor's investment decision is a positive step in the right direction, there is no room for complacency, and MMP will continue to encourage the government to increase their total level of R&D investment.
Elsewhere, we fully support the introduction of an advance assurance scheme for small businesses making their first R&D tax credits claim. Small, emerging companies are essential to the growth and progression of the technology sector; however, as previously mentioned, the real driving force for UK R&D and UK innovation are large corporations. We urge the government to introduce schemes and net benefit increases on current Large Company schemes, with the view of incentivising multi-national corporations to locate in the emerging UK market