What did the Chancellor announce in the Spring Budget today?
The R&D tax relief schemes were again mentioned by The Chancellor of Exchequer, Jeremy Hunt today, as a follow-up to announcements in the Autumn statement.
There are a lot of moving parts at the moment, see the technical detail note here. With a new relief for R&D intensive SMEs who will qualify for an enhanced rate of R&D tax relief, a delay to restrictions on overseas expenditure from 2023 to 2024, and the potential move to a single, combined RDEC and SME scheme in April 2024.