Clause 167 - Relief for research and development
Finance Bill
6:45 pm
Mr Howard Flight (Arundel and South Downs, Conservative)
I welcomed on the Floor of the House the reduction of the minimum expenditure requirement in both schemes to £10,000. Also welcome is the inclusion of the costs of agency workers. The Institute of Chartered Accountants has suggested that in relation to agency workers there may be a need to amend schedule 20(16)(1)(b) of the Finance Act 2000 to include pay-as-you-earn and national insurance contributions for agency workers. I pass on its comments that it looks forward to further consultation.
Given that the proceedings on the Floor of the House did not get as far as considering the amendment in relation to North sea exploration, will the Economic Secretary explain the Government's thoughts on whether the provision might be extended to certain aspects of that exploration?