UK R&D spending lowest in the G8

by | Nov 4, 2015

The UK government spends around 0.49% of GDP on funding research and development (R&D), prompting business groups to call for an increase to help increase growth.

The Confederation of British Industry (CBI) is calling on the government to increase total R&D spending to 3% of GDP as research shows that the current level of spending is the lowest among the G8.

The CBI wants the government to set out a “coherent framework” to boost innovation and create more capacity in the economy in the long term.

Getting the most out of R&D

In order to qualify for government tax credits or relief a company must be engaging in R&D activities that are:

  • systematic, investigative and experimental
  • carried out in an approved  scientific or technological field
  • seeking technological or scientific advancement
  • seeking to resolve uncertainty.

The rates of relief available depend on the size of your company. If you would like to discuss your eligibility to claim reseach & development tax credits with one of our experienced R&D specialist tax accountants please contact us on 020 7330 0000. 

Mark Rubinson Arram Berlyn Gardner R&D tax credits

Mark Rubinson  – – 020 7330 0005


Tell us about your business

Explore where you want to go, what you need to get there and how ABG can help.

ICAEW Chartered Accountants
Probate Accountants
International Accountants EAI members
BAS Approved Chartered Accountants