Articles in "Research and Development"

The introduction of the new merged R&D tax relief scheme from 1 April 2024 has attempted to clarify the rules surrounding subcontracting expenditure.

Last week, HMRC published their draft rules and restrictions on contracted-out R&D and overseas workers. Overseas expenditure draft guidance has remained relatively similar to its original however there has been some significant and promising changes to contracted-out R&D compared to previous communications from HMRC.

HMRC is currently scrutinising claims for R&D tax relief, following increased media attention and parliament focus. The government has recently made its first steps towards reforming the R&D tax relief scheme, but the biggest changes are due to come into force on 8 August 2023.