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UK attracts £500 million in R&D

Oct 23 2009

The UK has attracted £500 million in Research and Development (R&D) investment over the last two and a half years.   

Lord Davies, Minister for Trade, Investment and Small Business, says: ‘The UK attracts the most R&D investment in Europe internationally, the competition for R&D investment is intense, and winning it is vital for the UK’s future economic prosperity.

Earlier this year The European Investment Monitor, an online information provider reported that the UK was the number one destination for R&D investment in Europe.

Accountancy firm Grant Thornton recently suggested that HMRC may change its interpretation of the rules which provide for ‘tax super-deductions’ on costs incurred for R&D activity. HMRC has denied this claim.

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