Research & Development (R&D) tax relief reforms
These measures combine the current Research and Development Expenditure Credit (RDEC) and R&D SME scheme into a merged scheme, implement the enhanced support for R&D intensive SMEs and restrict the use of nominations and assignments for R&D tax credit payments.
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Linked documents
- Policy Paper Merger of current small or medium enterprise (SME) and Research and Development Expenditure Credit (RDEC) schemes
- Policy Paper Enhanced support for Research & Development (R&D) intensive small or medium enterprises (SMEs)
- Policy Paper Restricting nominations and assignments for Research and Development (R&D) Relief
▤ Verbatim text from source document
As announced at Autumn Statement 2023, the government will legislate in Autumn Finance Bill 2023 to:
- merge the current RDEC and R&D SME schemes for accounting periods beginning on or after 1 April 2024
- implement the enhanced support for R&D intensive SMEs that was announced at Spring Budget 2023, providing a higher rate of payable tax credit for eligible SMEs
- restrict the use of nominations and assignments for R&D tax credit payments