News > R&D Tax Reliefs Update
Wilson Partners R&D Tax Relief
26 May 2021

R&D Tax Reliefs Update

R&D tax reliefs are often incorrectly overlooked by business owners as not applicable and therefore investigations into the benefits are not felt by many. Innovation equals growth and development which translate into efficiency and effectiveness that ultimately filter across all elements of society, which is why the government puts so much support into R&D.

Have your say on the future of R&D tax reliefs
In the budget the Government announced a target of raising total investment into research and development to 2.4% of UK GDP by 2027. This is an ambitious target, so to ensure a fair system, a consultation with stakeholders has been launched with the aim to ensure that R&D tax reliefs are current, competitive and the appropriate recipients are beneficiaries of the reliefs. The consultation will investigate private sector R&D investment and how businesses are supported or influenced by R&D schemes. This will help to identify where changes may be required to hit the targets set. You can take part in the consultation here.

R&D investigations are on the rise
As keen as the government is to pour funding into genuine R&D schemes, it is keener to ensure the funds end up with the right businesses. HMRC recently bolstered it’s R&D tax investigations team by around 100 people and we are seeing first hand and hearing anecdotal evidence of a rise in investigations. This only serves to highlight the importance of having a reputable firm handle your claim from the outset so you don’t end up with a nasty surprise a couple of years down the line. Our R&D team here are in constant contact with clients and HRMC to ensure that relevant claims are made and are successful.  We help to focus on your innovation to aid your growth. You can find out more here.

Wilson Partners Downloads Header.

Guide to selling your business

Your simple guide to helping you maximise the value in your business.

Download

Sign up to receive alerts

Call us on 01628 770 770 for a no-obligation chat

You may also be interested in...

Barnbrook Sinclair has joined the Wilson Partners Group

Wilson Partners brings Barnbrook Sinclair onboard

We’re excited to announce that we’ve joined forces with Woking based firm Barnbrook Sinclair. The move strengthens our presence in the South East of England enabling us to bolster our audit, tax and advisory capabilities. Our latest acquisition…

Read More

Wilson Partners Property News

Property Newsletter – March 2024

Welcome to our monthly newsletter for property landlords. We hope you find this informative and please contact us to discuss any matters further. England: New rules proposed for short-term lets In a press release published on 19 February 2024, the…

Read More

Business people alongside a performance chart depicting ups and downs and looking to the future

Wilson Partners releases results of its eighth biannual business report of South East SMEs

Wilson Partners conducts a biannual business survey among SME clients in January and July. The research is carried out across a broad range of businesses across the South East of England through our Maidenhead, Cambridge and Sevenoaks offices. We…

Read More