R&D Tax Reliefs Review: Consultation on a single scheme
Download the full outcome
Detail of outcome
This document summarises the responses to the consultation published in January 2023 on the design of a potential research and development tax relief scheme that merges the existing RDEC and SME schemes, as well as setting out the next steps the Government intends to take on this.
Merging schemes would be a significant opportunity for tax simplification, provide more clarity and certainty to SMEs, and help to drive innovation in the UK.
The Government has not yet taken a decision on whether to merge and intends to keep open the option of doing so from 2024. A decision on whether to merge will be made at the next fiscal event.
Original consultation
Consultation description
The government recognises the important role that R&D plays in driving economic growth and the benefits it can bring for society.
At Autumn Statement the Chancellor announced that, as part of the ongoing R&D tax reliefs review, the government would reform the R&D tax reliefs to ensure taxpayers’ money is spent as effectively as possible, to improve the competitiveness of the RDEC scheme, and to take a step towards a simplified, single relief based on the RDEC scheme. The Government committed to consulting on the design of a potential simplified scheme, this consultation invites views on the design of a potential single R&D tax relief scheme.
Documents
Last updated 18 July 2023 + show all updates
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A summary of responses received to the consultation on merging the existing research and development expenditure credit (RDEC) and the small and medium enterprise (SME) R&D relief.
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First published.