![174576](https://www.taxation.co.uk/images/default-source/woodwing/174576.png?sfvrsn=ad8d41cd_2)
Key points
- HMRC has rules on which party can claim in a project with numerous stakeholders – these rules are changing.
- The intention to do R&D is the main driver. Other factors to consider include IP ownership autonomy in executing activity and financial risk. This is consistent with HMRC’s original guidance that was changed in 2021.
- Changes impact accounting periods starting on or after 1 April 2024 – what about companies caught before the changes come into effect?
- How will this impact different sectors? Are there winners and losers or is everyone better off?
Subcontracted research and development (R&D) has been a rather turbulent topic in the R&D tax relief world for years. It’s important to get it right: as we know the scheme aims to generate value by incentivising uncertain projects that otherwise may not be taken on stimulating economic activity and increasing...
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