Additionally, there is the availability of tax credits to businesses conducting any type of R&D in the UK market (i.e. feasibility studies, beta testing, clinical trials, prototyping, etc.). If a U.S. company has less than 250 employees worldwide it can claim back 150 percent of the UK-related R&D expenses as a tax credit, while if there are more than 251 employees worldwide the company can claim 125 percent. Should the business be unprofitable, it can roll the credit over for up to three years or claim a one-time, cash-in-hand advance on the exact amount of that tax credit.
Unlike the recent outsourcing phenomenon, technology companies aren't shutting down offices or plants in the U.S. to reduce costs, commented Ed Pennington, vice president of business development of NEIIA's Chicago office. Instead, their motivation for opening additional operations in North England is to tap into the European market and ultimately generate positive growth for the whole organization.
Additional Articles of Interest
- — RFID technology has the potential to change the way supply chains are managed, but in order to be effective businesses need to take a holistic look at the deployment. Read more in the SDCExec.com article "Time for RFID: Applying RFID in the Supply Chain."
— For a contrary view of the future of the RFID market, see the article "The O'RFID Factor: A 'No Spin' Look at Where Radio Frequency Identification Is Headed," in the October/November 2004 issue of Supply & Demand Chain Executive.
— For more information on trends relating to radio frequency identification (RFID), follow this link for an extensive listing of SDCExec.com articles, featuring the latest research findings on the RFID, including adoption, return on investment and barriers to implementation.