New R&D regime creating uncertainty for accountants

More than half of accountants’ clients are concerned that increased complexity surrounding research and development (R&D) tax relief will affect their cashflow according to new research from ForrestBrown.

The research shows that this sentiment is echoed by accountants. Nearly two-thirds (61%) of those polled also reported that the changes to the scheme were raising the level of their practice’s business risk.

Some recent reforms to R&D tax relief are welcome but the pace of change and the challenge of adapting to a new rules have added complexity for accountants. HMRC's increased focus on compliance and the resulting uptick in enquiries is also a factor in the perceived risk associated with R&D tax relief claims. 

The findings also revealed that a third of accountants found that the changes are affecting their profitability and fees while 28% reported that their team no longer want to...