Budget 2015 - Boost for innovation & SMEs
19th March 2015
The 2015 Budget was a positive one for small innovative businesses with various measures to be introduced by the Government in a bid to accelerate growth in technology SMEs and to assist UK entrepreneurs to generate the next version of Twitter or Facebook in the UK.
Among the things budgeted by the Government are £40m for investment in developing Internet of Things technologies (think smart fridges!) and £100m for driverless cars and associated technologies.
R&D tax credits for SMEs were already in line for an increased rate from 1 April 2015. The additional boost in the 2015 Budget was an opportunity to get advanced assurances lasting 3 years for R&D tax credit claims and to reduce the time taken to process a claim.
The Government also will be raising awareness of the R&D reliefs available over the next 2 years through publicity campaigns.
Written by Alex Koupland, Manager