Training for tax credits systems
Inspectors will have better understanding of software development
Tax inspectors will next week take part in the first training course to improve their understanding of software for firms applying for research and development (R&D) tax credits.
The credit scheme allows firms with programmes worth more than £10,000 to deduct 150 per cent of that expenditure when calculating annual profits.
But software development can be less tangible than in other sectors, leading to inconsistencies.
Courses focusing on the IT industry will help address the imbalance, said Tom Wills-Sandford of supplier body Intellect.
‘There have been stories of claims being turned down for peculiar reasons – because software is invisible,’ he said.
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