Reaction – R&D Commitment Within Chancellor’s Spending Round 2019

Reacting to the Chancellor of the Exchequer’s Spending Round 2019, Tom Verner, Managing Director of The Momentum Group, R&D tax credit consultants, welcomed the news that the UK Government is committed to increasing levels of R&D to at least 2.4% of GDP within the next eight years.

He said: “It is encouraging to see that – like the previous administration – the Chancellor is dedicated to continued investment in R&D activity across the UK – something which will be particularly important in a post-Brexit world. For the UK to continue to attract the best of the scientific community, it is essential there is a continued promotion and increased investment in R&D activity. We look forward to learning more about the Government’s plan in due course.

“Companies across Northern Ireland should keep this in mind and ensure they continue to make use of incentives available to them, such as the various R&D tax reliefs promoted by HMRC.”