Spring Budget supports R&D tax relief

Posted on Wednesday 11 March 2020 by Luke Hamm | Chief Executive Officer

The chancellor stands firm on the government’s commitment to R&D tax relief. The government have announced sweeping measures to turbocharge the UK economy and commitment to R&D was underlined with a massive £22bn investment.

The budget highlights for R&D were:

  • Increase RDEC rate from 12% to 13%
  • R&D support for distilleries to go green
  • £22bn increase to R&D spends – spending review will cover the details
  • £800m set up of an ARPA styled model
  • £400m university support outside of London and the South East
  • £4,000 NI allowance will have a small negative impact on R&D claims

As a member of both the HMRC consultative committee and the CBI R&D working group, we will continue to be part of policymaking and continue to drive improvements to the R&D tax environment.

GovGrant has successfully submitted over 7,000 R&D tax claims with a 100% success rate. If you currently benefit or would like to know more on how you could benefit, contact us now.

Read more about how R&D tax relief can support your business.

Budget-2020

About Luke Hamm | Chief Executive Officer

Luke Hamm | Chief Executive OfficerJoining GovGrant in 2017 as Commercial Director, Luke now brings his passion for client delivery to the role of CEO. He ensures that GovGrant is taking its place as the UK’s largest specialist provider of IP services and R&D tax relief, helping our clients commercialise innovation. View profile