MMP Tax Ltd - R&D Tax Relief, RDEC, RDA, Patent Box & VGTR
MMP News 2016

Response to the Autumn Statement 2016

23 November 2016

MMP Tax is pleased by the announcements made today by the Chancellor of the Exchequer, Philip Hammond, which expressed the continuation of support for innovation and research and development.

The Chancellor stated that “We do not invest enough in research, development and innovation. As the pace of technology advances and the competition from the rest of the world increases, we must build on our strengths in science and tech innovation to ensure that the next generation of discoveries is made, developed and produced in Britain. So today I can confirm the additional investment in R&D, rising to an extra £2 billion per year by 2021”.

 
The extra £2 billion a year of funding by the end of this Parliament is an increase of approximately 20% to total government R&D spending. This will be the greatest increase seen in any Parliament since 1979.
 
The Chancellor stated that “We do not invest enough in research, development and innovation. As the pace of technology advances and the competition from the rest of the world increases, we must build on our strengths in science and tech innovation to ensure that the next generation of discoveries is made, developed and produced in Britain. So today I can confirm the additional investment in R&D, rising to an extra £2 billion per year by 2021”.
 
The extra £2 billion a year of funding by the end of this Parliament is an increase of approximately 20% to total government R&D spending. This will be the greatest increase seen in any Parliament since 1979.
 

 

Response to the EU referendum 2016

Our message for our tech business clients

28 June 2016

The world woke up last week to find that the UK had voted to leave the EU. This was a result that many people were not expecting. Against this backdrop, there is uncertainty and political unrest across the UK and much commentary across the EU and the globe. All of which is not necessarily good for business. 

Tax incentives are very much a part of the developed world’s tax landscape. These are not EU directives and as such are not impacted by the UK’s status in the EU. Indeed, Australia, the US and Canada introduced tax incentives for research and development long before the UK

The process for exiting the EU will take a number of years and nothing is likely to change overnight and we do not believe that the decision to leave the EU will bring an immediate change to the tax incentive policy or government tax roadmap

To download the full article please click here

 


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