For many UK manufacturers, R&D tax relief has become a tried-and-trusted way to fund investment in R&D. The incentive has offered firms a steady source of cash with which to hire more staff, develop new products and overcome shocks like COVID-19 and Brexit-induced supply chain disruptions.
But just as the UK manufacturing sector has undergone much change in recent times, so too has R&D tax relief. Many manufacturers are now familiar with the incentive, but not enough are up to date on recent policy developments which have changed the landscape. The changing market of R&D tax relief HMRC has grown increasingly…
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