Since 2000, R&D tax relief has become a valuable tool for small and large companies alike. It has proven very successful in driving extra capital into innovation.
Certainly, running a business is complicated. It can be challenging to stay in touch with every single new legislation that may affect your business.
In addition, since the ground-breaking Tribunal of Hadee Engineering Limited in 2020, legislation changes to R&D tax relief have come thick and fast. Meanwhile, they do not appear to be slowing. Similarly, alongside multiple proposed and implemented legislation changes, HMRC has made internal changes, and announced figures relating to fraud. The timeline, below, will help you to stay up to date with changes at HMRC, key updates and legislation changes.