Advertisement: Wild Knight Vodka
RealVNC mid banner careers
Advertisement: Cambridge Network
Advertisement: Mogrify
Advertisement: EY Mid banner
Advertisement: Simpsons Creative
ARM Innovation Hub
Advertisement: RSM
RealVNC mid-banner general
Barr Ellison Solicitors – commercial property
Advertisement: Kao Data Centre mid banner
Advertisement: EBCam mid banner
Advertisement: TTP
Mid banner advertisement: BDO
8 June, 2006 - 08:21 By Staff Reporter

Deloitte R & D tax credit move

Business advisory firm Deloitte has launched a specialist Research & Development Tax Credits team at its office in Cambridge.Business advisory firm Deloitte has launched a specialist Research & Development Tax Credits team at its office in Cambridge.

The team, which includes senior managers Graham Cormack and Steve Burgen and is headed by director John Moore, has been set up to provide companies involved in R & D, particularly those in the hi-tech sector, with expert advice from tax, engineering, software and scientifically qualified professionals on how to make the most of the credits available to them.

Deloitte already operates a 30-strong national R & D Tax Credits department from its office in London.

The Cambridge team is the second the firm has established at a local level, with its office in Leeds being the other.

John Moore said: “Studies show that companies that invest in R & D grow and prosper in increasingly competitive markets.

“The UK government is going to great lengths to make sure this happens and has introduced significant incentives for companies involved in R & D activities.

“The reliefs apply to much more than traditional scientific research performed by people in white coats and specifically cover experimental development activities in manufacturing and software, amongst others.”

The new tax credits mean that for every £1 million spent on qualifying R & D a large company can deduct £1.25 million from taxable income.

Small to medium sized enterprises can deduct £1.5 million or claim a cash repayment of up to £240,000.

For capital on R & D expenditure there is a 100 per cent immediate deduction available.

Add new comment

Newsletter Subscription

Stay informed of the latest news and features