Here YE!! Here YE !!!!!! R & D tax credit Announcement !!

Today the Government has announced its intention to introduce an R&D tax incentive by 2019. The Government is introducing an R&D tax incentive to help more businesses to undertake a greater amount of R&D.; The Ministry of Business, Innovation and Employment, Inland Revenue, the Treasury and Callaghan Innovation have designed an R&D tax incentive proposal and are seeking your input into the design process. We’ve developed a discussion document outlining the main features of our proposal and would like you to submit feedback on it. Your views will help us to develop policy options for the final design of the R&D tax incentive.; R&D Growth Grants will be phased out with the introduction of the R&D tax incentive. We will be undertaking additional consultation with current Growth Grant customers to ensure they have a smooth transition onto the R&D tax incentive. If you are a Growth Grant customer, you will receive communication from us soon on what the transition plan entails. All other Callaghan Innovation Grants and services will remain in place.; You can submit your response in a number of ways: by using our online submission form, email, or posting us your submission. Visit MBIE website  Please send in your submission by 5.00pm Friday 1 June.; After the consultation period closes, MBIE, IRD, the Treasury and Callaghan Innovation will provide the Government policy options, which will take into account your views for inclusion in legislation to implement the tax incentive. When that Bill is introduced to Parliament, you will also have an opportunity to submit in writing or verbally to a parliamentary Select Committee.