What was announced in the Autumn Budget 2021 concerning R&D tax credits?
Following on from that consultation reforms that were announced in the Autumn Budget 2021, the government:
- support modern research methods by expanding qualifying expenditure to include data and cloud costs
- more effectively capture the spillover benefits of R&D funded by the reliefs through refocusing support towards innovation in the UK
- target abuse and improve compliance
Today we got more of the detail of these reforms and understood more of the next steps.
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