Consultation response: The scope of qualifying expenditures for R&D Tax Credits

Consultation response: The scope of qualifying expenditures for R&D Tax Credits

Tax creditsGiven 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) .

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