ARE YOU READY ?
MAJOR CHANGES TO R & D RULES FROM APRIL 2023
As you will know , in the Autumn Statement 2022 Chancellor Jeremy Hunt announced changes to R & D Tax Credits for UK businesses , affecting both SMEs and large organisations from April 2023 . The changes to R & D Tax Credits reflect a shift in strategy from the Treasury for investment in UK innovation .
The coming changes will only affect expenditure from 1st April 2023 . This means that SME ’ s undertaking innovative R & D can still take advantage of the government ’ s more generous relief rates for expenditure up to 31st March 2023 .
Do you do any of the following ? If so , it ’ s important to ensure that your business doesn ’ t miss out on the tax relief available .
• Review design and manufacturing services to improve a product
• Develop new manufacturing methods which create efficiencies
• Modify or improve existing equipment and tools
• Create bespoke products to client needs
Innovation
Research & Development Finance Patent Box
Visit pricepearson . com to find out more .
As the leading Chartered Accountancy practice based in the West Midlands , Price Pearson offers a tailored R & D service to help support your business journey .
Our team of experts have an abundance of knowledge and experience to provide suitable guidance on how the coming changes will affect your R & D Tax Credits claim . Call us today for a free initial discussion to assess your eligibility .
Tel : 01384 456 780 Email : enquiries @ pricepearson . com www . pricepearson . com