Autumn Statement 2023 Update: R&D Tax Credit Changes + EIS Extension

In this video, we cover key changes announced in the Autumn Budget Statement 2023 with a particular focus on the R&D tax changes:

• Merger of the SME relief into the RDEC relief for accounting periods commencing on or after 1 April 2024
• Example calculations for the merged relief (also comparing the new 19% relief for loss making companies)
• SME Intensive R&D company changes - 30% R&D expenditure v 40%, plus one year grace period
• Contracted out and Subsidised expenditure clarification
• EIS extension from 2025 to 2035.

You can find previous guidance on recent R&D tax relief changes that have led up to this Autumn Budget Statement here.

Photo by Louis Reed / Unsplash