‘L’ Day – draft R&D legislation published
Today was an exciting day in the world of R&D as Government published the draft legislation and guidance setting out the changes planned next year. This will be effective for accounting periods starting on or after 1 April 2023 (so for a December year end, the 31 December 2024 R&D claim). In a nutshell: Subcontracted R&D and externally provided workers (and contributions to independent research) only qualify where R&D activities are undertaken in the UK. Narrow exemptions exist but are
Angela Browning
20 July 2022