Merged Research and Development Tax Scheme & Recent Changes
The research and development (R&D) tax relief system is undergoing a significant overhaul, with the government unveiling a series of changes aimed at simplifying the relief. Effective from April 2024, the current R&D Expenditure Credit (RDEC) and SME schemes will be merged into a unified framework, promising a more streamlined approach to incentivising R&D activities … Continue reading “Merged Research and Development Tax Scheme & Recent Changes”
Research and Development – Autumn Statement 2023
Introduction The UK government is reforming Research and Development tax reliefs from April 2024 to simplify and improve the system. The changes include merging the RDEC and SME schemes into one scheme with a single set of qualifying rules. The goal is to provide the best incentives and support for businesses innovating in science and … Continue reading “Research and Development – Autumn Statement 2023”