§ Mrs. Curtis-ThomasTo ask the Chancellor of the Exchequer for what reason the existing tax relief for small companies investing in research and development excludes(a) sole practitioners, (b) partnerships and (c) companies which are not incorporated under the Companies Acts.[126587]
§ Mr. TimmsResearch and Development (R&D) tax credits are targeted on companies because the vast bulk of R&D activity is carried on by incorporated businesses. This limitation also keeps the scheme simple and straightforward.