Market leading insight for tax experts
View online issue

An update on R&D incentives

Speed read
Two developments in R&D tax incentives could have a significant impact on businesses claiming the relief. From 1 April 2020, rules intended to prevent abuse of the SME R&D tax credit will limit the credit to three times the claimant’s total PAYE and NICs liability for that year. This could particularly impact businesses where staffing costs are not a significant element of R&D expenditure. HMRC has also developed a digital form designed to prevent the poor quality information provided by many claimants for R&D relief. While this will set a much more explicit expectation of the information that should be submitted, the forms may only be used by companies that can cover at least 50% of their R&D claim costs within ten projects.
If you are not a subscriber, subscribe now to read this content.
If you are already a subscriber, sign in
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.