James Allen
Updated on 18 October 2024
Now that the new Government has settled in, innovative businesses across the UK wait with nervous anticipation as to what the forthcoming Budget might bring.
In the party's manifesto pre-election, there was some optimism as to the direction of travel that Labour would take concerning innovation funding. Assurances that the legislation, which had been through many changes by the Conservatives, would be left alone remains to be seen.
But at a meeting at the international Investment Summit in London 13 October 2024 the Chancellor Rachel Reeves stated, "We will maintain the current rates for the research and development reliefs which provide generous support for innovation."
- MMP will be watching closely ready to advise innovative companies on their specific circumstances
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Written by
James Allen
James is a Content Writer at MMP Tax.
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