What the Autumn 2022 Statement Means for Tech in 2023

Event Description

Autumn Statement 2022: What it means for R&D Tax Relief

In the 2022 Autumn Statement, Jeremy Hunt stated “I have decided today to cut the deduction rate for the SME scheme to 86% and credit rate to 10%, but increase the rate of the separate R&D Expenditure Credit from 13% to 20%.

Despite raising revenue the OBR have confirmed that these measures have no detrimental impact on the level of R&D investment in the economy. Ahead of the next budget we will work with industry to understand what further support R&D intensive SMEs may require.”

These changes will apply to expenditure incurred on or after 1 April 2023.

Join Brendon Rorrison and Scott Tonner from tax experts Leyton to learn more about what the 2022 Autumn Statement means for innovative UK businesses in the 2023 tax year.

They will be providing commentary and insights on:
· RDEC rate increasing from 13% to 20%
· Requirement for an increased level of technical justification
· Pre-notification for first time claimants
· Claiming for Cloud and Data spend
· Overseas costs can only be included in special circumstances
· Inclusion of pure mathematics projects