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CIOT: Budget: R&D Tax Credits – ‘above the line’ relief welcomed

The Chartered Institute of Taxation (CIOT) has welcomed the confirmation by the Chancellor of the decision to introduce an ‘above the line’ research and development (R&D) tax credit in Finance Bill 2013. The CIOT has previously said that an ‘above the line’ tax credit system will provide a far stronger incentive for businesses to invest in R&D.