Category: Research and Development

New R&D tax relief guidance available

New R&D tax relief guidance available

For accounting periods beginning on or after 1 April 2024, a new merged scheme for research and development tax credit comes into force. The new merged scheme replaces the old RDEC and small and medium-sized enterprise (SME) schemes. The new scheme reduces the amount of benefit that would generally have been received under the old scheme.

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Important Research & Development changes from April 2023

The government is committed to a number of important changes to Research & Development (R&D) tax relief from 1 April 2023. It also looks increasing likely that the two existing systems will be merged into a single system in future years and we hope to hear more in the March 2023 Budget.

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Research and Development Tax Credits

Research and Development (R&D)

The R&D tax relief schemes for companies will be enhanced from April 2023 but we have to wait until this summer for more details. We do know the reform is set to boost sectors where the UK is a world-leader, including artificial intelligence, robotics, manufacturing, and design.

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