The Chancellor confirmed that the new merged R&D Expenditure Credit (RDEC) scheme and the Enhanced Support for R&D Intensive SME (ERIS) scheme (for accounting periods starting on or after 1 April 2024) will remain unchanged from that announced by the previous Government.
The Government will be enhancing the administration of R&D reliefs by launching an R&D disclosure facility by the end of 2024. It will also proceed with establishing an R&D expert advisory panel. A consultation will also begin in Spring 2025 on the use of advance clearances for R&D relief. The aim of this is to reduce error and fraud, improve the claimant’s experience, and provide certainty to companies, which is to be welcomed.
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