Written question asked by Margaret Ewing (Scottish National Party) on Tuesday, 3 April 2001, in the House of Commons. It was due for an answer on Friday, 6 April 2001. It was answered by Stephen Timms (Labour) on Friday, 6 April 2001 on behalf of the Treasury.

Treasury

Question: To ask Mr Chancellor of the Exchequer, how many firms have taken advantage of the research and development tax credit for small and medium-sized enterprises.

Answer: Mrs. Ewing: To ask the Chancellor of the Exchequer how many firms have taken advantage of the research and development tax credit for small and medium-sized enterprises. [157387] Mr. Timms: Figures for the number of firms that have taken advantage of R and D tax credits will not be available until 2002, when firms incurring R and D expenditure have sent in their tax returns for the first year of operation of the scheme. However, enhanced capital allowances since 1997 and new tax credits to encourage investment and innovation have already saved business over £1 billion.

Secondary information

Type: Written question
Reference: 157387; 366 c302W
Session: 2000-01
Subjects: Small businesses Tax allowances Research Dividend tax credits Research and development tax credit
Link: View this Written question on www.publications.parliament.uk