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
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.