Small Businesses: Tax Allowances

(asked on 25th January 2023) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what representations or feedback he has received from (a) small business community, (b) the science community and (c) the investment community on the changes to R&D tax credit announced in the Autumn Statement 2022.


Answered by
Victoria Atkins Portrait
Victoria Atkins
Secretary of State for Health and Social Care
This question was answered on 30th January 2023

The Chancellor set out at the Autumn Statement that the Government will work with industry ahead of Spring Budget to understand whether and how to provide further support for R&D intensive small and medium enterprises (SMEs), while also considering fiscal sustainability.

The Government will continue to engage with industry in the coming months and any further changes will be set out in detail in the usual way at the Budget.

The Government has launched a consultation on R&D Tax Relief Reform which closes on 13th March.

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