The Chancellor announced in the UK autumn budget, that the R&D Tax Relief rates will remain the same. After roughly two years of many R&D relief rate changes, along with a new merged scheme. A new scheme for high-intensity R&D SMEs, and changes to eligible costs, the government has taken a step to stabilize the program.

HMRC feels there is still more work to do on the compliance front. With the overall level of error and fraud from 2021 to 2022 being £1.3B out to £7.6B claimed. HMRC will likely continue compliance checks, currently at 17% of all claims filed. While this might still seem low, the chances of having a compliance check over a 3–5-year window are very high and likely.

How can RDP Associates help?

Companies are now realizing more effort and understanding are required to determine what is an eligible R&D project. After having prepared over 10,000 R&D Tax Credit claims and having an experienced technical staff of engineers, software/AI specialists and life science professionals. RDP can quickly make an eligibility determination. Having someone who has a technical background in a client’s industry makes it infinitely easier for the client to gain confidence that they are entitled to the R&D Tax Credit.

More importantly, RDP is here to help should a compliance check arise. We take pride in our work and fully support our client during a compliance check. By attending all meetings, preparing any additional R&D Tax Credit information required and briefing the client before any meeting with HMRC. During a call with HMRC, we are very effective in setting out the R&D activities the company undertook and how they meet the R&D Tax Credit criteria.

So, if you want to know more about the UK autumn budget or are interested in or have any questions on R&D Tax Relief. Please don’t hesitate to contact Jenni at [email protected]