Research and Development (R&D) tax reliefs, including the small or medium-sized enterprise (SME) scheme, offer an incentive for businesses to invest. Budget 2018 announced measures to limit the amount of payable R&D tax credit that a qualifying loss-making business can receive in any one accounting period.
On 28 March 2019, HMRC launched a consultation on the application of this limit. The consultation runs to 24 May 2019.