Schedule 12 - Tax relief for expenditure on research and development

Part of Finance Bill – in a Public Bill Committee at 6:30 pm on 21st May 2002.

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Photo of Mark Hoban Mark Hoban Conservative, Fareham 6:30 pm, 21st May 2002

The Paymaster General needs to reflect on the fact that many such costs are calculated and apportioned by companies anyway. Their own costing

systems for R and D for manufacturing will allocate costs among various activities. I am not sure that complying with the terms of the amendments moved by my right hon. Friend the Member for Fylde would require businesses to do much more than they do at the moment. There is a greater risk that they would have to deconstruct their existing cost bases to ensure that they comply with the schedule as drafted.