Home > Dorset Chamber News > R&D announcement contradicting main thrust of Autumn Budget

R&D announcement contradicting main thrust of Autumn Budget

Posted on: 27/11/2017

The Chancellor, Philip Hammond, announced a further £2.3bn in investment in R&D as well as an increase in the main R&D Tax Credit to 12% (from 11%).

“What about our SMEs and Scale-ups?” asks Rebecca Combes, head of business tax at the South Coast office of Smith & Williamson, the accountancy, investment management and tax group.

“The Chancellor has increased the Research and Development tax credit [RDEC] credit by 1% but has left the SME rate the same. “Whilst the existing scheme for SMEs is still more valuable, limiting the increase to R&D tax credits for the large company scheme sends a mixed message to British businesses.? The R&D tax credits is a popular relief which is promoting investment and creating jobs.  Why should only big business benefit when it’s our smaller businesses we need to be supporting?”


Did you know, Dorset Chamber Members can submit news free of charge?

Submit your news

Most popular reads

Become a member

Become a Dorset Member today

Find out how

Dorset Focus Magazine

Keep your finger on the pulse

Get the latest business news in one neat package with our Dorset Focus Magazine. Read Online here

Business Training

Free Training to help businesses across Dorset provided by Dorset Chamber members

Some training opportunities are open to non-members

Find out more

Business Partners