HMRC has launched a technical consultation on draft guidance for two aspects of the research and development (R&D) tax reliefs due to be implemented on 1 April 2024.
The areas are contracted-out R&D activity and the overseas rule.
The latter reflects changes in legislation, in particular the elimination of the term ‘qualifying overseas expenditure’.
Comments should be emailed to randd.policy@hmrc.gov.uk by 1 March 2024.
