Budget 2015: R&D Tax Credits – They’re working, so let’s keep going!

Budget 2015: R&D Tax Credits

KPMG comments on the Chancellor’s announcement that the government will improve access to R&D tax credits.

Also on KPMG.com

Samantha Vanags, tax partner for KPMG Enterprise, comments on the Chancellor’s announcement that the government will improve access to R&D tax credits by introducing voluntary advanced assurances lasting three years for smaller businesses making a first claim from autumn 2015:

“As more and more of our country’s income comes from the high tech sector, it’s no wonder that Government introduces something new in almost every Budget to encourage companies to innovate.

“This time, we’ve seen a new opportunity for smaller companies to get their claims for R&D tax credits pre-approved for three years, backed by a 2-year publicity strategy to increase awareness of the reliefs available.

“This really is excellent news. R&D tax relief is playing an important part in incentivising innovation and fuelling the UK’s growth. We’ve always said that the single biggest change that would make it even more effective is to increase its awareness amongst smaller businesses, and to make it easier for them to claim. These measures do exactly that.

“If more companies claim, then the overall impact of the scheme will be more significant, and the bigger rewards we will reap from those companies that are making the most difference to our economy.

“In short, R&D Tax credits are working, so let’s keep going!”



For media enquiries, please contact:

Katy Broomhead, KPMG Corporate Communications

T: +44 (0)161 246 4623

M: +44 (0)7824 537 963

E: katy.broomhead@kpmg.co.uk

KPMG Press office: +44 (0) 207 694 8773


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Chancellor’s Budget 2015


About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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