Surprise, surprise. Today, in the USA, Technology trade groups that represent Google, Microsoft and Cisco lauded the research and development (R&D) tax credit extension included in the final “fiscal cliff” deal approved by the House late on Tuesday.
The Information Technology Industry Council (ITI) and the Telecommunications Industry Association (TIA) were delighted with the renewal covering the two year period. They said the R&D tax credit is “key to maintaining the United States’s position as a leader in the global tech industry”. The credit deal meant that it applied retroactively extending the scheme until the end of 2013 in the approved “fiscal cliff” legislation. It expired at the end of 2011.
“The R&D credit has been, and will remain, a cost-effective policy for increasing research activity and producing a dollar-for-dollar increase in research spending,” TIA President Grant Seiffert said in a statement.
“We can’t keep cutting things like basic research and new technology and still expect to succeed in a 21st-century economy,” said President Obama, hailing Congress’s passage of a budget related to the so-called “fiscal cliff.”
So, if your company is an innovator in any technical field, then you should be taking advantage of the UK’s scheme – your competitors over the water are!
How do you find out more?
Simple. Call for our free R & D Tax Credit assessment service today. We will advise whether or not you have a claim. There’s no sign on cost and our fee is fully contingent on results. So nothing for you to lose – except an opportunity to claim if you delay.