HMRC is consulting on a single scheme for R&D tax relief to replace the existing SME and RDEC schemes. The timetable is an ambitious one and much needs to be considered, write Lindsey Copland, Ian Rowland and Kenneth Nugent (Grant Thornton).
On 13 January 2023 the government delivered on its commitment made in the Autumn Statement 2022 to consult on a single research and development (R&D) tax regime exploring the case for merging the current SME scheme with the R&D expenditure credit (RDEC) scheme and the design of this potential new scheme. Views are sought on the consultation until 13 March 2023.
How we got here?
At Spring Budget 2021 the government launched a review of the UK’s R&D tax regime focused on ensuring that it remains up to date competitive and well targeted. This ‘roots and branches’ review explored the nature of...
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HMRC is consulting on a single scheme for R&D tax relief to replace the existing SME and RDEC schemes. The timetable is an ambitious one and much needs to be considered, write Lindsey Copland, Ian Rowland and Kenneth Nugent (Grant Thornton).
On 13 January 2023 the government delivered on its commitment made in the Autumn Statement 2022 to consult on a single research and development (R&D) tax regime exploring the case for merging the current SME scheme with the R&D expenditure credit (RDEC) scheme and the design of this potential new scheme. Views are sought on the consultation until 13 March 2023.
How we got here?
At Spring Budget 2021 the government launched a review of the UK’s R&D tax regime focused on ensuring that it remains up to date competitive and well targeted. This ‘roots and branches’ review explored the nature of...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
