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CBI recommends optional R&D tax credit rule change

A forthcoming rule change to bring the UK government’s tax relief for R&D ‘above-the-line’ should be optional, the CBI business lobby group has told the chancellor George Osborne.

The R&D tax credit will become an “above-the-line credit” from 2013. This means that, rather than a reduction to the tax base, firms will receive a credit equal to a percentage of their eligible R&D expenditure, to be used against corporate tax liability.

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