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...
Steps HMRC are taking There are a number of steps HMRC is taking to ensure companies are filing proper R&D tax credit claims. This ranges from preventing fraudulent claims to companies pushing boundaries as to what constitutes eligible R&D work. Digital filing...
There are significant changes coming about to the R&D tax credit programme in many areas. We have summarized these changes below as well as providing some observations. Administration, Processing and Compliance Compliance Of upmost concern to both HMRC and the UK...
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