What role do R&D tax reliefs play in encouraging UK R&D?
by the British Academy, Royal Society, the Royal Academy of Engineering and the Academy of Medical Sciences
- Year
- 2019
Summary
The UK Government’s Industrial Strategy has committed to increase investment in research and development (R&D) in the UK to 2.4% of GDP by 2027, with a longer-term goal of 3%. Delivering this will need significant increases in investment from both public and private sources.
Government has committed to increase public investment with an additional £7bn over a five-year period. This direct investment alongside various other measures such as the R&D Tax credits scheme can be used to encourage and stimulate further investment by businesses.
