R&D Tax Credits - what happened?

Bram Vis ???????? Bram Vis ????????

Bram Vis ????????

Founder - Hemingway Financial??

发布日期: 2022年11月17日
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The Autumn Budget - R&D Tax Relief is protected

As stated in The Guardian - Innovation

  • Hunt says it would be a “profound mistake” to cut the government’s research and development budget. He says funding will be protected, with an increase to ￡20bn by 2024-25.The chancellor said he wants to turn Britain into “the world’s next Silicon Valley”.Tariffs will be cut to support business supply chains.Investment zones will be kept, centred on universities in “left behind areas” to help build growth clusters, with further announcements at the spring budget.Hunt says Solvency II reforms, which apply to insurers, will be made to unlock “tens of billions of pounds” in investment.

Bram Vis ????????

Founder - Hemingway Financial??

2 年

The Devil will OF COURSE be in the detail - which we are still all to receive. However, it could have gone a lot worse - and everybody in the R&D Industry really knows that. There were 2 possible options ... Option 1. The Gov remains committed to R&D Tax Credits as a concept that helps the British economy and all the firms within it..... Option 2. The Gov scraps R&D Tax Credits entirely as it is NOT committed to this at all - and needs to save money. Just look at all the posts up to yesterday - people were really not 100% sure how it was going to go. Particularly after the recent abuses in the sector had loads of publicity! But reason has seen daylight! The Gov remains committed to R&D Tax Credits and the annual budget for this has even been increased.

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