Policy paper
Research and Development (R&D) Tax reliefs - Reform
This tax information and impact note is about changes to the R&D Tax reliefs.
Documents
Details
For expenditure on or after 1 April 2023, the Research and Development Expenditure Credit (RDEC) rate will increase from 13% to 20%, the SME additional deduction will decrease from 130% to 86%, and the small and medium (SME) sized company credit rate will decrease from 14.5% to 10%.
This reform ensures that taxpayer support is as effective as possible, improves the competitiveness of the RDEC scheme, and is a step towards a simplified, single RDEC-like scheme for all.
Updates to this page
Published 21 November 2022