ARTICLE · 29 MARCH 2024

R&D Tax Relief Changes

Price Bailey

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The government published draft legislation earlier this year, for the merger of the RDEC and the SME R&D relief schemes. In the Autumn Statement (November 22 2023) it was announced...

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The government published draft legislation earlier this year, for the merger of the RDEC and the SME R&D relief schemes. In the Autumn Statement (November 22 2023) it was announced that for periods commencing on or after 1 April 2024 there will be a single merged scheme; the proposed merged scheme (SME and RDEC schemes) as well as an SME intensive scheme.

Autumn Statement 2023 updates*

The Autumn Statement announced the merger of the small and medium sized enterprises (SMEs) and the Research and Development Expenditure Credit ("RDEC") schemes.

Draft legislation on the merger of the schemes had previously been published earlier this year with a view to enabling the schemes to be merged from 1 April 2024, but there remained a lot of speculation as to whether the change would be made as quickly as the Government envisaged.

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