R&D Tax Credit changes in Budget 2012 - good news for our Plan B's

[AtW]

If your plan B is doing something which involves proper R&D into genuine scientific advancement

It does not need to be a scientific advancement.

[northernladuk]

You need to understand exactly what the term R&D means first. To me that is working with new stuff within your current business, not starting a new one.

On that basis I would say this is pretty meaningless to us but happy to be corrected.

[d000hg]

If your plan B is doing something which involves proper R&D into genuine scientific advancement, then yes. Writing a business application, no.
And only if you are actually spending money on your plan B rather than doing coding yourself in your spare time.

[matzie]

"2.99 Research and Development (R&D) tax credits – As announced in Budget 2011, with effect from 1 April 2012 the rate of R&D tax credits for small and medium enterprises (SMEs) will increase from 200 per cent to 225 per cent; the limit of SME payable credit, based on their PAYE/NICs liability, will be removed; and the £10,000 minimum expenditure requirement for
8 Corporate Tax Reform: delivering a more competitive system, HM Treasury and HMRC, November 2010.
Budget 2012 65
large companies and SMEs will be abolished. The Vaccine Research Relief for SMEs will also be removed. (Finance Bill 2012)"

Looks like good news for our Plan B's - what do you think?