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SEEDA Welcomes Budget Increase In R&D Tax Credits And New Funding to Promote 'Green' Business - Apri |
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SEEDA Welcomes Budget Increase In R&D Tax Credits And New Funding to Promote 'Green' Business April 2007 The South East England Development Agency (SEEDA) welcomed the announcement in the Budget of a package of business support measures to boost global competitiveness, smart growth and sustainable prosperity, the three pillars of the South East's Regional Economic Strategy (RES) 2006-2016.
Under the new proposals, small and medium-sized companies will receive 175% tax relief on R&D expenditure (previously 150%) and large companies will get 130% (125%). The Budget also introduces a new environmental tax credit worth £40 million a year to businesses, and increases the funding available for Regional Development Agencies (RDAs) and Business Links to support small businesses with advice and incentives for environmental improvement, innovation and energy audits (an increase from £140 million in 2006/7 to £240 million in 2007/8).
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UK Regional Grants 