The government has launched a consultation on simplifying the UK’s research and development (R&D) tax relief system, driving innovation and growing the economy.

The consultation runs until 13 March 2023 and sets out proposals on how a single scheme could be designed and implemented.

This would replace the two R&D tax relief schemes currently in place – the Research and Development Expenditure Credit scheme and the small and medium enterprise R&D relief.

This is part of the government’s ongoing R&D tax relief review and follows changes announced at the Autumn Statement 2022, where the generosities of the two R&D tax schemes were broadly aligned.

If you would like to talk about the R&D tax relief system, please contact us by calling 0115 928 3228 or email info@coalesco.co.uk.