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.
Documents
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