Amid numerous UK government reviews, R&D tax relief remains crucial for fostering business innovation. AICPA & CIMA, drawing on insights from their extensive UK-based membership, have put forth key recommendations to enhance this tax relief. These proposals highlight the significance of R&D tax relief in the UK's economic landscape and underscore the need for government action. As the government contemplates these insights, the future of R&D tax relief stands at a pivotal juncture, poised for changes to benefit businesses across all sectors.
Advocacy in Action: Eight measures to improve R&D Tax Relief in the UK
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R&D tax relief has been subject to multiple UK Government reviews over the years. This is an important tax relief for businesses and therefore it is important to our 80,000 UK members who advise and/or work with companies of all sizes and in all sectors.
The government is poised to introduce wholesale changes to the relief available. In this briefing, we draw together our consultation responses, which have been shaped from evidence drawn from our UK-based membership, many of whom advise UK businesses (either as an employee or professional adviser). With their insights, we have developed eight recommendations for future Government action in this area.