Credit where credit is due, to be fair this is a good report issued by Coadec (the Coalition for a Digital Economy representing UK tech startups and scale-ups) about the state of the UK R&D tax credit incentive.
In a nutshell, the Coadec report calls for better policy alignment of this tax relief with the realities of digital & tech development today (e.g. in terms of categories of qualifying costs) and an overall clean-up of the R&D tax credit advisory industry at large.
I couldn’t agree more with the points raised – especially the latter point around instilling better regulation and service standards to R&D tax boutiques and consultancies. I have advised on the R&D tax relief since its inception in 2000 and it is scary to see the “have-a-go-heroes” emerging from seemingly all corners right now to advise companies on this area of tax legislation.
Overall, it is a good report. I run through the Exec Summary in my video. I suggest you give the full report a read, especially if you’re running a tech startup:
Let me know your views.