Business News
Small firms scoop up R&D tax credits
Small and medium-sized businesses carrying out research and development (R&D) work have benefited from £570 million worth of tax credits from the Inland Revenue. A total of 10,300 claims for the tax credits were made by small firms before 6 May this year, according to new figures released by the Paymaster General Dawn Primarolo. She said R&D investment by small and medium-sized enterprises was "crucial to raising productivity in the UK and strengthening economic growth".