Live Webinar | 4 April 2024 at 12pm
Preparing You for the 2024 R&D Tax Overhaul
Let GrantTree’s R&D Tax experts prepare your business for the major changes coming to R&D Tax Relief. Join the webinar to learn:
- What this new scheme means for your business
- How it will affect your next claim
- How to remain compliant and secure your full allowance
Sign Up for GrantTree's Webinar
Join GrantTree’s R&D Tax experts to find out how the latest reforms will impact your business.
Background to the R&D Tax Relief Reforms
In the 2023 Autumn Statement, Chancellor Jeremy Hunt confirmed the government will merge SME R&D Tax Relief for profitable and non-R&D intensive unprofitable businesses and the Research and Development Expenditure Credit (RDEC) into a single scheme.
This move represents one of the most significant changes to R&D Tax Relief in its 23-year history and follows a series of major reforms implemented over the last 18 months.
Impacting accounting periods starting on or after 1 April 2024, the new scheme will closely mirror RDEC, offering an above-the-line credit worth 20% of qualifying expenditure. After tax, profitable companies will receive either 16.2p or 15p per £1 of investment, depending on their tax rate.
Loss-making SMEs that invest at least 30% of their total outgoings on qualifying R&D expenditure may qualify for the R&D-intensive scheme, which lets companies recoup up to 27p per £1 of eligible investment.
Government Announces Merger of R&D Tax Schemes
Let Our Experts Prepare You
GrantTree’s experienced R&D Tax team are standing by to help your business navigate the latest changes to the scheme.
To get help with your upcoming claim, just get in touch.
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What Our Clients Say
GrantTree has been an invaluable companion during this time of dramatic change for the R&D Tax Relief scheme, giving me and my team complete peace of mind during the claim process.
GrantTree makes claiming R&D Tax Relief easy. The team is extremely proactive, whether it’s ensuring we’re claiming our entitlement or making sure we understand the changes to the scheme.
GrantTree's technical and financial specialists have been a real asset, working closely with our team to file consecutive successful, high-value R&D claims without delay.
From data collection to submission, GrantTree’s process was exceptional. Our funding was paid out extremely quickly, which clearly reflects how well GrantTree understood and prepared our claim.
GrantTree has consistently been able to capture the information we provide and distil it into something HMRC understands. I don’t think another agency could do a better job.
GrantTree’s service was fast and responsive. They identified costs that we missed and increased our claim size. We’re happy customers and recommend working with them.
We’ve worked with GrantTree for a few years now. They take the pain and complexity out of claiming R&D tax credits so we can focus on developing our product.
Being an environmental engineering company, we are very specialised; GrantTree used their extensive expertise to identify qualifying work and maximise what we could claim back.
GrantTree made the whole process of applying for R&D Tax Credits completely painless. Their extensive experience is invaluable in navigating the complex rules.
GrantTree has been a joy to work with! They really care about our product and what we do. Would highly recommend!
We were using a standard accounting firm, but they didn't understand our vision. Virtual reality is quite a new technology and not everybody gets it.
GrantTree was the perfect tax credits partner. They really understood our technology and R&D, which helped us claim for every penny possible.
Grant Tree's approach to R&D Tax claims is a breath of fresh air. They take the weight off your shoulders, and do all the work of preparing the claim.
The money they have successfully claimed for us has played an important part in funding the growth of the business in a range of ways.
GrantTree has been great in helping us get R&D Tax Credits. Having never done this before, we were astounded by how easy and clear they made the entire process.
GrantTree helped us understand the concept and provided us with lots of guidance. I would be more than happy to recommend GrantTree to anyone.
The team were second to none in making the process as easy as possible and exceedingly helpful along every step. We look forward to working with them next year.
Without GrantTree, we would not have filed at all, and even if we had filed, we would not have maximised our claim in the way they managed.
We were previously working with another specialist when GrantTree approached us and were able to save us more than £10k in forecasted fees.
The value we have gained from GrantTree is significant to our business and helps us to invest appropriately in R&D. I would highly recommend the service to any company.
Speak to GrantTree
Let GrantTree’s R&D Tax experts prepare your business for the R&D Tax Relief forms,
helping you maximise these changes and maintain compliance.
