£2bn boost to Britain’s R&D sectors
Prime Minister Theresa May has revealed government plans to introduce an extra £2bn to invest into revolutionary areas such as robotics, artificial intelligence and biotechnology, through business incentives including R&D Tax Credits.
Speaking at the CBI (Confederation of British Industry), Theresa May communicated a desire to continue to attract companies at the cutting edge of research and development. The funding will encourage the growth of scientific and technological potential into tangible commercial success, providing long term benefits to Britain’s economy.
One of the initiatives provided by the Government to promote innovation and growth within Britain’s scientific and technological companies is the R&D Tax Credits. Introduced in 2000, support given to innovative companies has grown to £2.45bn in the last tax year, and this announcement by Theresa May opens up even more resource to UK companies within these sectors.
For more details on the R&D Tax Credits, and funding for future potential projects, contact Ad Valorem on the details below.
Ad Valorem R&D Specialists