Research and development

Research and development

UK R&D tax credit changes ‘not built on solid evidence’ Small business representative says slashing tax relief did not make sense after new data emerged.

Research and development are crucial for the growth and innovation of businesses. However, recent changes to R&D tax credits in the UK have raised concerns among small business representatives. The decision to slash tax relief without solid evidence has been criticized, as it may hinder the progress of research and development activities in the country.

It is important for policymakers to consider the impact of their decisions on businesses, especially when it comes to initiatives that promote research and innovation. Small businesses play a significant role in driving economic growth, and any changes to tax credits should be based on thorough research and analysis to ensure that they support rather than hinder research and development efforts.