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Simple tax credit scheme preferred

THE CONSTRUCTION Pro-ducts Association has recommended manufacturers opt for the simplest of three research and development tax credit schemes proposed by the government.

The move comes after the government asked for input from manufacturers on the take-up of one of three tax schemes.

The options are a simple volume scheme which would reward all R&D spend, a two-tiered volume scheme offers benefits depending on levels of expenditure while a baseline volume scheme credits spend above a predetermined point.

Choosing the simple volume scheme would lead to smaller cash incentives but lower administration costs than the other two options.

'It is possible that this method would give the lowest amount of relief but given the complexities that surround the other methods we feel that this would be offset by the administrative ease of its implication, ' said John Tebbit, CPA industry affairs director.

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