Consultation outcome

R&D Tax Reliefs: consultation

• From: HM Treasury
• Published: 3 March 2021
• Last updated: 30 November 2021 — See all updates

This was published under the 2019 to 2022 Johnson Conservative government

This consultation has concluded

Detail of outcome

At Autumn Budget 2021, the government announced that R&D tax reliefs would be reformed to support modern research methods by expanding qualifying expenditure to include data and cloud costs; to capture more effectively the benefits of R&D funded by the reliefs, through refocusing support towards innovation in the UK; and to target abuse and improve compliance.

The summary of responses received to this consultation has been published as an annex to the R&D Tax Reliefs Report.

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Original consultation

Summary

The government launched a review of R&D tax reliefs at Budget 2021. This wide ranging consultation seeks views from stakeholders on the current R&D tax relief schemes.

This consultation ran from
3 March 2021 to 11:59pm on 2 June 2021

Consultation description

The government has an ambitious target to raise total investment in research and development to 2.4% of UK GDP by 2027. R&D tax reliefs have a key role in incentivising this investment by reducing the costs of innovation. It is therefore important to ensure that the reliefs remain up-to-date, competitive and well-targeted.

At Budget 2021 the government announced a review of the reliefs, supported by a consultation with stakeholders. This consultation will explore 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.

Documents

R&D Tax Reliefs: consultation

PDF, 242 KB, 26 pages

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Published 3 March 2021
Last updated 30 November 2021 + show all updates

1. 30 November 2021

   Linked to the consultation response.

2. 3 March 2021

   First published.