ARTICLE · 19 JULY 2023

Navigating R&D Tax Credits Changes

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The Research & Development (R&D) tax credits scheme has been subject to continuous change which will affect how businesses can run their R&D departments.

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The Research & Development (R&D) tax credits scheme has been subject to continuous change which will affect how businesses can run their R&D departments. Find out everything you need to know about the upcoming changes and how to maximise your R&D claim here.

Following a year of changes, which has included HMRC's crackdown on the R&D tax credit scheme, and the shock announcement of the reduction in rate for SMEs, the Spring budget attempted to address some of these concerns. HMRC's solution is increasingly complex with new requirements in order to access the relief, which has split the SME credit depending on the rate of R&D intensity. This could leave some businesses missing out on the higher tax relief. Your business will need to adhere to the updated legislation, to ensure your next R&D claim will be submitted successfully.

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