Research warning

Britain will lose its attractiveness as a place to do business if research and development benefits are scaled down or withdrawn, according to Grant Thornton.

The business and financial advisors are calling on the Government to continue tax relief schemes for R&D and say relief should not be restricted by sector or type of technology.

The call comes in a report on tax incentives for research and development in the UK which found that 40 per cent of South Yorkshire companies plan to increase investment in R&D in 2011 and only six per cent say they may cut spending.

Grant Thornton says current R&D plans are in sharp contrast to last year when investment in R&D dropped significantly in South Yorkshire and 80 per cent of businesses froze or reduced their R&D budgets.

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