R&D reliefs There have been major tax incentives for research and development expenditure for many years. Until recently, HMRC has adopted a ‘light touch’ approach to compliance in this area. However, those days are now over, as Finance Act 2023 introduces a number of changes, including more onerous compliance rules. The main changes are outlined
Read MoreCompanies that invent new production methods or products can claim enhanced tax relief for the Research and Development (R&D) costs. The enhanced expenditure scheme for small and medium-sized enterprises (SMEs) increases qualifying expenditure by 130%. So that for every £100 spent, the company enjoys a deduction of £230 from taxable profits. This may create
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