Budget 2014

The Chancellor announced that from April 2014 the government will increase the rate of the payable credit to loss makers under the SME R&D tax credit scheme from 11% to 14.5%. This means loss-making SMEs will be able to claim 32.63% of their qualifying expenditure on R&D in the form of a cash credit (rising to 33.35% from 1 April 2015 onwards).