Research and Development Expenditure Credit
(asked on 1st September 2023) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment he has made of the potential impact of HMRC's Research and Development Tax relief reform changes on the number of UK SMEs submitting applications for tax relief.
This question was answered on 11th September 2023
The Government is currently undertaking a review of R&D tax reliefs, to ensure the UK remains a competitive location for cutting edge research, that the reliefs continue to be fit for purpose, and that taxpayer money is effectively targeted. A number of reforms have already been announced as part of this review.
The Government is currently undertaking a review of R&D tax reliefs, to ensure the UK remains a competitive location for cutting edge research, that the reliefs continue to be fit for purpose, and that taxpayer money is effectively targeted. A number of reforms have already been announced as part of this review.
HMRC has considered the impacts of these measures, and these are set out Tax Information and Impact Notes published alongside any announcements.
HMRC publishes annual statistics on the number of R&D tax relief claims received: https://www.gov.uk/government/statistics/corporate-tax-research-and-development-tax-credit