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Inland Revenue

Tax Policy

PUBLISHED 19 December 2008

Special report on R&D tax credit repeal

As part of the recently enacted Taxation (Urgent Measures and Annual Rates) Act, the research and development tax credit has been repealed from the 2009-10 income year, remaining in place for the 2008-09 year. Our special report on the repeal of the tax credit is intended to help claimants who have early balance dates and their advisors to understand the legislative consequences of the repeal. A full account of the legislation will appear in a “Tax Information Bulletin” to be published in 2009.