Ever since the UK’s tax relief programme for research and development expenses was introduced in 2001, thousands of businesses have filed claims. The scheme has rewarded over £6.5 billion businesses over this period and has continued to increase year after year.
In 2018, the scheme is expected to grow even further. More business of all sizes from different industries are expected to file a claim for R&D Tax Credits. Here’s how this programme is likely to impact the economy and technical innovation over the coming year:
Changes in the Autumn Budget
The Autumn Budget back in 2017 included some particular alterations to the RDEC R&D tax credit scheme. These changes in the budget are considered open to large and small businesses who rely on the scheme to balance R&D expenses with tax credits.
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