New research has revealed that 59% of R&D tax credit claims in 2023 were either disputed or rejected.
This data comes from EmpowerRD’s “2023 and Beyond: Unlocking UK Tech Growth Through R&D” report.
2023 was a transitory year for the R&D tax world, with a number of reforms to the scheme introduced by UK Chancellor, Jeremy Hunt. The most significant of these was a lower deduction rate for SME credits, designed to tackle the much-publicised abuse of the R&D tax credits scheme.
The figures from EmpowerRD’'s report highlight the need for working with a reputable R&D tax consultancy, who will be best placed to advise on whether a claim is likely to qualify and to ensure that any claim is submitted in the correct way.
A good consultancy establishes its reputation by hiring the very best R&D tax advisors.
At Leonid, we only ever work with reputable consultancies, to seek out leading R&D tax talent across the globe.
To find out more about our service and how we can help you build the best R&D tax advisory team in the business, please get in touch with Emily Anderson today for an informal chat.