Consultation response: The scope of qualifying expenditures for R&D Tax Credits
- Published: Wednesday, 14 October 2020 07:40
- Written by National Centre for Universities and Business
Given the scientific and economic importance of R&D to the UK, since 2017 the government has committed to an ambitious target for economy-wide R&D investment to constitute 2.4% of GDP. by 2027.
R&D tax credits form a core part of the government’s support for innovation. The tax credits support innovative businesses as they invest, driving growth and productivity across the UK.Research into the benefits of R&D tax credits has been extensive and as nations increase the quality of their research base, fiscal incentives are starting to play a bigger role in large R&D-intensive firm decision-making about where (and if) they choose to invest.
To read NCUB's consultation response on the scope of qualifying expenditures for R&D Tax Credits, click pdf here (268 KB) .