SME R&D Tax Credit Changes – Introduction of a PAYE/NIC Cap | Autumn Budget 2018
A change to the SME R&D Tax Credit incentive was announced in the Autumn Budget 2018.
The UK Government is introducing a cap on the total amount that can be paid out as an R&D tax credit to 300% of the total PAYE & NIC incurred by a company in the relevant accounting period.
This change will be introduced for accounting periods beginning on or after 1 April 2020.
In this short video overview, we consider how and in what situations these new rules might impact companies plus we provide a summary of these new rules.