It’s time to act on the new R&D regime

Although the UK’s new R&D tax relief regime came into force on 1 April 2024, many companies have only now completed their first accounting period affected by the change and will need to grapple with the completion of their tax returns. 

With key reforms including tighter rules on overseas and subcontracted R&D costs, businesses should not view this as old news. The time to assess eligibility, review documentation, and take action is now.

Companies contracting out research - and those conducting it - might be interested to read our article Are your CRO agreements R&D relief ready? which summarises the key changes and provides some practical tips for drafting and negotiating contract research organisation (CRO) agreements.