Policy paper

Additional Tax Relief for Research and Development intensive small and medium sized enterprises

This technical note gives details of a new higher Research and Development payable credit rate for Research and Development intensive small and medium sized enterprises.

• From: HM Revenue & Customs
• Published: 15 March 2023

Documents

Technical note: Additional tax relief for Research and Development intensive small and medium enterprise

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Details

At Spring Budget 2023 the government announced that qualifying Research and Development (R&D) intensive small and medium sized enterprises (SMEs) would receive additional tax relief from 1 April 2023.

The government has published a technical note setting out how this relief, which will be legislated for in a future Finance Bill, will work.

It provides businesses with information before draft legislation and guidance is published later in the year, in particular explaining what is meant by an ‘R&D intensive’ company.

Published 15 March 2023