SME tax relief changes – HMRC consultation deadline 28 May
HMRC is currently consulting on a proposed change to the R&D tax relief for SMEs to minimise abuse of the regime. The changes should not impact most companies based on the draft proposals and discussions we have been having, which is good news. In summary, HMRC propose that repayable R&D credits in excess of £20k will be restricted by three times the company’s PAYE/NIC liabilities for that accounting period. HMRC propose a further concession where claims would not be capped
Angela Browning
12 May 2020