What did the Chancellor announce in the Autumn Statement today?
The R&D tax relief schemes were specifically mentioned by The Chancellor of Exchequer, Jeremy Hunt today. In response to reports of abuse and fraud in the SME scheme, he has announced a cut in the enhancement rate to 86% (from 130%) and the tax credit rate to 10% (from 14.5%). For the RDEC scheme, the rate will increase from 13% to 20%.
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