HM Treasury and HMRC recently launched two consultations on proposed changes to how SME receive tax relief for investing in R&D. This comes after changes announced at the Autumn Statement on the rate of this tax relief. The Government are intending to merge the SME scheme with the scheme for larger businesses (RDEC) as well as making it more complicated for SMEs that had not previously applied for this tax relief to do so. FSB is opposed to these changes. In our responses to these consultations, we call for Government to review and reconsider.
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