R&D Tax Relief Changes Explainer Session

Find out more and register here: https://www.eventbrite.co.uk/e/rd-tax-relief-changes-explainer-session-tickets-879475955257

Following several turbulent years of piecemeal change to Research & Development (“R&D”) tax legislation in the UK, the introduction of a new and complex R&D incentive from 1st April 2024 may lead to innovative businesses having more questions than answers.

The traditional R&D incentives (the SME and RDEC) are set to be merged into a universal scheme and qualifying cost categories are subject to change. This presents advantages, disadvantages and new complexities that need to be navigated carefully to ensure companies remain eligible to claim tax relief and can continue to invest in their future growth.

R&D tax relief has been increasingly subject to additional compliance, enhanced HMRC scrutiny and changes in the bottom-line rate of relief. Now, under this new incentive, it is companies that are undertaking R&D on behalf of their customers that may be particularly at risk as the ownership of R&D looks to move up the supply chain and away from the companies undertaking the R&D work itself.

The R&D tax landscape and the changes brought about will need to be better understood and evaluated to understand the impact it may have on innovative businesses in the UK.

To shed light on these significant changes and their implications for business across various sectors, Albert Goodman Chartered Accountants team of experts will provide invaluable insights and practical guidance to help businesses adapt and evolve in the evolving landscape.