R&D tax reliefs to be simplified from April 2024

March 29, 2024|In KRW Tax news|By Keith Witchell

It was announced today that the current R&D Expenditure Credit (RDEC) and SME schemes for R&D tax relief will be merged from April 2024 into a simpler single system. The scope of the enhanced R&D tax relief for R&D intensive businesses will also be widened, with the intensity threshold lowered from 40% to 30%, and a one-year grace period introduced, also from April 2024.

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Keith Witchell