For the next couple of years, we expect HMRC will be tough on companies filing R&D Tax Credit claims. Every year in the UK, about 90,000 companies are applying to the R&D tax relief programme. Of which SMEs take up 82,000 of these. Many companies are under the...
While HMRC continues its crack down on R&D tax credit claims by significantly increasing compliance checks, additional changes to the R&D Tax Relief Programme were announced in the 2023 Spring Budget.. So, let’s see what the key changes to the programme look...
As a result of the recent Autumn Statement, the tax relief rates for the SME programme has been cut drastically by roughly 40% on average. The reason is that the SME programme has grown exponentially over the last 8 years. But HMRC believes many companies are not...
What is happening to the SME Scheme? Is the SME Scheme in Jeopardy? RDP Associates explains: The 2022 Autumn Statement announced a reduction in the effective R&D tax credit rate. Which is approximately from 25% to 16% for SMEs offsetting the R&D tax relief...
RDP Associates explains what’s in the Autumn Statement 2022. The SME R&D tax credit rate has been significantly reduced effective for R&D expenditures incurred after 1 April 2023. The uplift has been decreased from 130% to 86% (a surprisingly specific...
HMRC coming down hard on companies who push the boundaries When it comes to the R&D programme, there are many growing concerns regarding R&D Tax Credits. Within the UK, companies have had it easy when it comes to HMRC’s query rate of R&D Tax Credit claims...
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