The Government launched a review of R&D tax reliefs at Budget 2021. The Government has a target to raise total investment in research and development to 2.4% of UK GDP by 2027.
This consultation, which closed on 2 June, explored the nature of private-sector R&D investment in the UK, how that is supported or otherwise influenced by the R&D relief schemes, and where changes may be appropriate.
CTG’s responded to the consultation following consultation with sector partners including BUFDG and AMRC. Our response makes the case for widening the eligibility of entities that can qualify for R&D tax reliefs to universities and charities in view of the benefit to the UK economy.