South: Rakesh Lad joins KPMG from Deloitte
KPMG has appointed an experienced director to lead the growth of its R&D tax practice across the Thames Valley and wider South region. Rakesh Lad joins from Deloitte where he spent 11 years in a similar role.
Lad is a qualified chartered engineer and is one of a handful of R&D tax advisers in the UK that combines a strong technology background with extensive experience in the specialist field of R&D tax services.
He commented: “I’m really looking forward to building this part of KPMG’s business. The region is full of opportunity with innovative businesses looking to grow.
"R&D tax incentives are an important tool in fostering innovation within the economy and a flagship policy for the UK Government. Whilst the figures show that there are significant and valuable benefits being claimed, businesses in the region are not taking full advantage of claiming these incentives and run the risk of being left behind in the race to innovate and compete at home and abroad. The advantage of R&D incentives is that they are designed to benefit all businesses, regardless of size or industry, and the criteria apply to more activities than many people realise – put simply, it’s not limited to those in white lab coats.
"Furthermore, the UK Government is increasingly using incentives and other reliefs to promote the UK economy, such as patent box and creative sector reliefs. A recent example of this includes the increase in the value of the R&D Expenditure Credit to 12%, and coupled with the reducing rate in corporate tax, there is no better time than the present for businesses to benefit from this Government support to invest and grow.”
Andrew Morgan, senior partner for KPMG in the Thames Valley, added: “We’re delighted to have Rakesh on board. It is reported too often that regions outside of London are struggling to grow. Innovation is the key to boosting our local economy, and if we can support businesses in our region to be more innovative then we are on the right track.”