BIA feedback on overseas R&D tax relief changes

BIA has responded to a HMRC consultation on changes to R&D tax reliefs.

In our response, have requested:

  • The inclusion of ‘medical’ and ‘technical expertise’ as stated conditions
  • The removal of the qualification legal and regulatory conditions such that the implication is that these can only be taken into account where they prevent R&D being undertaken in the UK
  • The inclusion of a transitionary provision such that contracts entered into before a specified date are not caught by the new rules (see below). 
  • Early release of HMRC guidance supporting the application of the new rules.

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