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Research: Tax Allowances

Question for Treasury

UIN 67147, tabled on 1 November 2021

To ask the Chancellor of the Exchequer, with reference to the Autumn Budget and Spending Review 2021, how savings to the public purse through restricting R&D tax credits to UK research is planned to be spent; and whether that spending will be counted as public R&D expenditure and so contribute to the Government's 2.4 per cent target for R&D spend as a proportion of GDP.

Answered on

4 November 2021

At Autumn Budget 2021, the Government announced reforms to Research & Development (R&D) tax reliefs to allow data and cloud computing costs to qualify, refocus government support towards innovation in the UK, target abuse, and improve compliance.

Further details of these reforms and next steps for the review of R&D tax reliefs will be published later in the autumn.

Answered by

Named day
Named day questions only occur in the House of Commons. The MP tabling the question specifies the date on which they should receive an answer. MPs may not table more than five named day questions on a single day.