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Research and development SME tax reliefs


Produced by Tolley in association with
Corporation Tax
Guidance
tag-icon Autumn Budget 2024

Research and development SME tax reliefs


Produced by Tolley in association with
Corporation Tax
Guidance
tag-icon Autumn Budget 2024
imgtext

This guidance note provides information on the R&D reliefs available specifically to companies which are small and medium sized enterprises (SMEs). The definition of an SME is detailed in the Research and development (R&D) relief ― overview guidance note. The Qualifying expenditure for R&D tax relief guidance note provides information on what expenditure qualifies for SME relief.

See also Simon’s Taxes D1.419, D1.420.

For accounting periods beginning on or after 1 April 2024, SMEs can claim relief for qualifying R&D expenditure under the merged RDEC scheme. See the Research and development expenditure credit (RDEC) guidance note. Only loss making SMEs which meet an R&D intensity condition can claim the more generous SME reliefs described in this guidance note. This is sometimes referred to as the β€˜SME intensive scheme’ or β€˜ERIS’ (enhanced R&D intensive support).

For accounting periods beginning before 1 April 2024, SMEs can claim RDEC only for contracted out, subsidised or capped expenditure by SMEs that does not qualify for the SME scheme. Otherwise, SMEs can only claim for relief under

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Will Sweeney
Will Sweeney

Senior R&D Manager, Menzies LLP , Corporate Tax

Will Sweeney is a Senior R&D Manager in the Innovation & R&D team at Menzies where he looks after many of their largest clients. He has extensive experience of helping entrepreneurial clients to optimise their tax position throughout the innovation lifecycle by advising on issues including R&D tax credits, RDEC, Creative Sector reliefs and the Patent Box.In addition to his tax knowledge, Will started his career as an engineer and has worked with numerous technology, manufacturing and property sector clients. He brings a wealth of industry experience to his clients, helping him to understand the specific technical details of work undertaken by clients.Will contributes to TolleyGuidance Corporate module.

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  • 06 Feb 2025 11:11

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