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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. Watch our webinar to learn:

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Learn how the latest reforms to R&D Tax Relief 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

They key things you need to know about one of the most significant changes in the history of the R&D Tax Relief scheme.

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GrantTree’s experienced R&D Tax team are standing by to help your business navigate the latest changes to the scheme.
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Let GrantTree’s R&D Tax experts prepare your business for the R&D Tax Relief forms,
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