LONDON The Electronics Knowledge Transfer Network (KTN), working in association with Intellect, and with the help of accountants Deloitte, Ernst & Young, KPMG and PwC are running a course to help electronics industry understand R&D tax credits.
As part of a range of measures aimed at improving U.K. productivity, the Chancellor of the Exchequer announced in the April 2007 budget, that the value of Research and Development (R&D) tax credits would increase and that he was raising the SME limits for R&D so that more medium sized companies would qualify for the more generous SME scheme.
From April 2008, the large company credit increased from 125 percent to 130 percent and the available credit to small and medium-sized firms rose from 150 percent to 175 percent.
One of the key topics on the course is eligible costs (for the tax credit). These can be different for small and large companies and the organizers intend to deal separately with each if there is sufficient demand from the delegates on the day.
The principles of claiming for the tax credits are the same for all companies. Maximum credits apply to those organizations that fall under the future SME R&D TC SME limits which are fewer than 250 employees; less than € 50million turnover; andless than € 43 million balance sheet. First criteria must be satisfied to qualify for the SME scheme and either or both of 2 and 3. These numbers are under review and are likely to be doubled, subject to EU approval.
The date of this all day event has been changed from June 3 to Monday June 2 and it is still in Russell Square, London and costs £50 for Electronics KTN members and £100 for non-members. For more details see the KTN website.