FINTECH ALLIANCE LIMITED

Changes introduced in April 2023 will affect any company claiming R&D benefits. The scope of qualifying expenditure will be expanded to include data and cloud costs, as well as advances in pure maths, which will be particularly relevant to FinTech businesses. In addition, new restrictions will be placed on activities carried on outside of the UK; the rates of relief are changing significantly and HMRC is changing the way it administers and reviews R&D claims.

With so much change happening, this session included practical guidance on what members should be thinking about now to prepare for the new rules, how to forecast the impact and what evidence will be needed to comply with new criteria.