The Scottish government will “extend and focus” research and development (R&D) tax relief in the event of a 'yes' vote on independence later this year.
Brian Williamson, managing director of R&D tax relief specialists JumpStart, met recently with John Swinney MSP, cabinet secretary for finance, to discuss the government’s intentions relating to R&D.
JumpStart is solely focussed on R&D tax relief so Williamson was concerned about any shifts in the coming months and looking for a commitment to pass on to clients. Rewarding innovation is often seen as a short-term cost with long-term benefits, but Williamson argued R&D tax relief was an economic lever that could help the government balance the books.
While Swinney admitted that nothing was concrete, he said there was not only scope to use these financial levers to continue to stimulate innovation, but also to "extend and focus" R&D tax relief to achieve better results.