The UK government has introduced significant changes to the R&D Tax Relief schemes, effective from April 2023, with further adjustments from April 2024. These changes are designed to streamline the system, 提高合规, and provide more targeted support for businesses driving innovation, particularly in sectors like tech and telecoms.
Key Changes from April 2023
R&D SME Scheme: The tax relief rate for businesses claiming under the SME scheme has been reduced to 21.5%（原为25%）. This reduction aims to minimise abuse of the scheme while maintaining support for genuine R&D活动. For early-stage tech start-ups, this shift may slightly reduce available funding, making it essential to ensure that claims are fully optimised.
R&D Expenditure Credit (RDEC): The RDEC rate has increased from 13% to 20%. This change indicates the government’s preference for the RDEC scheme, which is often better suited to scale-ups and larger firms. If your business is moving from start-up to scale-up, you may find RDEC more beneficial in supporting your R&D活动 as you grow.
Upcoming Changes from April 2024
统一的R&D Scheme: From April 2024, 所有的企业, including start-ups and scale-ups, will be part of a unified RDEC-like scheme. This simplified system will provide a credit rate of 20% for all qualifying R&D支出. The new structure eliminates the need to navigate separate schemes, making it easier for growing tech companies to access relief.
R&D Intensive SMEs: Start-ups and scale-ups classified as ‘R&D密集'，其中R&D makes up at least 30% of total expenditure—will still benefit from a 14.5%的税率&D税收抵免. If your company is loss-making but heavily invested in R&D, this enhanced support can provide much-needed funding during your growth phase.
为什么会有这些变化?
The government is focused on ensuring public funding supports innovation and reduces fraudulent claims. For tech and telecoms businesses, especially those scaling rapidly, understanding these changes is critical. 从历史上看, the RDEC scheme has delivered a stronger return on investment, with every £1 of support generating £2.40 to £2.70额外的R&D支出, compared to just £0.60 to £1.中小企业计划为28元. This shift is likely to benefit more established scale-ups with larger R&D项目.
Other Noteworthy Changes (from April 2024)
海外R&D Restrictions: If you outsource R&D to overseas partners, you’ll need to factor in the new restrictions on overseas R&D支出. Exceptions will be rare, so it’s important to reassess your R&D strategy to maximise UK-based activities.
Simplified Relief: The removal of qualifying bodies and subcontractor payments simplifies the process, allowing more direct control over your R&D索赔.
Financial Impact: The new scheme will have a direct impact on financial KPIs, as the credit will now be counted as taxable income, improving measures like EBITDA—an important consideration as you attract investors or prepare for further rounds of funding.
Government Commitment to Tech & 电信R&D
The UK government is committed to driving innovation across sectors, especially in tech and telecoms, which are key to the country’s future growth. R&D funding set to increase to £20 billion annually by 2024-25, now is the time to ensure your business is fully leveraging these opportunities.
确保遵从性
As the system becomes more streamlined, the focus on compliance intensifies. Start-ups and scale-ups in the tech space must ensure that claims are robust, 准确的, and compliant with HMRC guidelines. Partnering with a trusted R&D顾问, 像莱顿, can help you navigate these changes, 最大化你的索赔, and stay compliant with evolving regulations.
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