Autumn Statement 2022: Changes to the R&D tax relief scheme

Autumn Statement 2022: Changes to the R&D tax relief scheme

One of the key announcements from the Autumn Statement was Jeremy Hunt’s cutbacks to the R&D tax relief scheme for small and medium-sized enterprises (SMEs). Despite the chancellor reaffirming the Government’s commitment to R&D, this announcement didn’t come as a surprise, given recent reports of R&D abuse

Read more

Changes to R&D tax relief

Changes to R&D tax relief

On 20 July 2022 – dubbed Legislation Day or ‘L-Day’ – the Government issued draft legislation for the Finance Bill 2022/23, which includes reforms to the research and development (R&D) tax relief schemes. So, what might these changes mean for you? What is R&D tax relief? R&D

Read more

Covid-19 update: CBILS, R&D tax relief and more

Coronavirus Business Interruption Loan Scheme (CBILS) The CBILS is now available, with some 40 participating lenders through which funding can be sought. The advice being given by the British Business Bank is to apply to your usual lender first, as any decision-making on whether you are eligible

Read more

R&D myth busting – what is eligible?

Businesses are missing out on substantial tax savings because they’re unaware of what counts towards a Research and Development (R&D) tax relief claim. Many still wrongly believe that R&D only applies to scientific industries, when in reality, eligible activities can, and do, span a variety of sectors.

Read more

Making the most of staff costs in your R&D claim

Introduced by the Government in 2000 as an incentive to promote innovation, Research and Development (R&D) tax credits provide tax relief for eligible activities carried out by UK businesses. Tax relief is calculated based on the company’s spend on R&D, providing relief of up to 230% on

Read more