Research: Tax Allowances

Summary

To ask the Chancellor of the Exchequer, with reference to page 39 of the Budget Report 2021, for what reasons steps taken to prevent the abuse of the Research and Development relief for small and medium-sized enterprises result in an increase in the cost

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Timeline

1. 5 March 2021

   Written question

   To ask the Chancellor of the Exchequer, with reference to page 39 of the Budget Report 2021, for what reasons steps taken to prevent the abuse of the Research and Development relief for small and medium-sized enterprises result in an increase in the cost

   Source: Commons

2. 15 March 2021

   Answer

   In order to deter abuse, for accounting periods beginning on or after 1 April 2021, the amount of SME payable R&D tax credit that a business can receive in any one year will be capped at £20,000 plus three times the company’s total PAYE and NICs liability...

   Source: Written answer

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• · Treasury · Answering body

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