An update from our Head of Tax, Jon Yeomans, on the latest changes affecting the UK’s R&D tax credit scheme.
This month, topics include:
- Jon predicts the R&D tax credit scheme will undergo more fundamental changes in the next 18 months than the rest of the scheme’s existence.
- More changes to the scheme are anticipated in the Spring Budget on 15 March.
- A beta version of the new G-form for R&D tax submissions was unveiled in late January.
- HMRC have started a new ‘nudge campaign’ – sending letters to claimant companies asking them to make sure their claims are correct.
- The House of Lords’ subcommittee’s report on the R&D tax credit scheme has made a number of recommendations to HMRC.
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