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Research and Development Tax Credit

Volume 488: debated on Tuesday 24 February 2009

To ask the Chancellor of the Exchequer with reference to the answer to the hon. Member for Eddisbury (Mr. O’Brien) of 3 November 2008, Official Report, column 100W on research and development tax credit, how many companies used Business Link's interactive tool to calculate their eligibility for research and development tax credits in each month since March 2006. (258062)

No monthly breakdown is available of the previous answer. In total, since its launch, the tool has now been successfully used in around 9,400 instances.

To ask the Chancellor of the Exchequer with reference to the answer to the hon. Member for Eddisbury (Mr. O’Brien) of 3 November 2008, Official Report, columns 101-2W, on research and development tax credit, when figures for the (a) number and (b) value of research and development tax credits claimed in (i) 2006-07 and (ii) 2007-08 will be available. (258065)

Statistics on the number and cost of claims for research and development tax credits are published in December each year as national statistics on the HM Revenue and Customs website.

http://www.hmrc.gov.uk/stats/corporate tax/randdtcmenu.htm

Figures for years up to and including 2006-07 were published on 19 December 2008. Those for 2007-08 are scheduled for publication in December 2009.

To ask the Chancellor of the Exchequer what assessment his Department has made of the level of accuracy of the quotes provided to companies using Business Link's interactive tool to calculate their eligibility for research and development tax credits. (258086)

The interactive tool was developed with HMRC. Since launch the content of this tool has been reviewed by HMRC in March 2007, July 2007 and January 2008 with the aim of ensuring that the tool continues to meet the purpose of allowing companies to check whether they may be likely to be eligible for R and D tax credits. HMRC is currently in the process of undertaking a further routine review of the tool.