Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

New R&D tax credit could leave lots to be desired for struggling UK SME’s

by April 3, 2023
April 3, 2023
New R&D tax credit could leave lots to be desired for struggling UK SME’s

The Chancellor’s reforms to Research and Development (R&D) tax reliefs take effect today, including an increase in the Research and Development Expenditure Credit (RDEC) rate from 13% to 20% for UK businesses.

However, new research has found that half of UK SMEs  have had to borrow or raise any money due to the current energy and inflationary crisis and nearly a quarter have delayed planned investment in new technology or infrastructure due to rising costs.

Chirag Shah, CEO and Founder of Nucleus Commercial Finance, comments: “Against a backdrop of stagnant productivity and absent growth, business investment is in the doldrums. The promise of 12 new UK investment zones in a bid to reignite local economies, create new jobs, and boost investment opportunities could prove to be incredibly impactful. But in the shorter term, the government is pinning much of its hope on the Research and Development tax credit changes. And while those larger businesses working on innovative projects in science and technology will receive a boost to their growth ambitions, the reality is that SMEs up and down will likely see little benefit.

“To put it simply – more must be done. To stay competitive in the global market, attract foreign investors, and power up the UK economy, Britain’s SMEs need to be able to enhance their offering. The UK’s business finance network has the opportunity to step up and lead. Lenders must continue to work with and support the SME sector with fast and reliable access to the funding needed not just to sustain, but to drive forward, to innovate, and to grow.”

Read more:
New R&D tax credit could leave lots to be desired for struggling UK SME’s

0
FacebookTwitterGoogle +Pinterest
previous post
Bad debt levels soar by 61% for UK SMEs as supply chains are hit by rising insolvencies
next post
New research reveals that unfilled tech vacancies are down, yet talent struggles remain

You may also like

Further UK rail strikes announced in run-up to...

December 1, 2022

Electric cars drive UK MG sales to more...

October 16, 2023

AI is not a nice-to-have – it’s essential...

November 21, 2023

Shopify recognized Gepard PIM as a Partner and...

October 31, 2023

Four in ten UK SMEs take over 90...

August 29, 2023

EU’s counterfeit medicine plague calls for cross-sector innovation...

March 1, 2024

Charities go door to door to capitalise on...

August 8, 2022

UK house prices rise again as easing of...

December 7, 2023

10,000 small business leaders enrol in government-backed management...

December 13, 2024

Timeless Elegance: Top Decor Trends for a Sophisticated...

July 2, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump wins over lifelong Democrat autoworker with ‘big, beautiful bill’ vehicle loan tax benefit

      June 27, 2025
    • EXCLUSIVE: Trump admin takes action after massive fraud uncovered at agency Dems tried to protect from DOGE

      June 26, 2025
    • FBI investigating Iran strike leaker, Leavitt says: ‘They should be held accountable’

      June 26, 2025
    • SMCI Stock Surges: How to Invest Wisely Now

      June 26, 2025
    • NEW! 5 Significant Additions to Our Professionally-Curated Market Summary Dashboard

      June 26, 2025
    • ‘Presidential incapacity’: Senate Republican seeks paper trail of Biden’s autopen use

      June 26, 2025

    Categories

    • Business (8,316)
    • Investing (2,074)
    • Politics (15,824)
    • Stocks (3,172)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved