The UK government issued the first version of the BIS guidelines (now the BEIS guidelines) containing the eligibility criteria for the R&D Tax Credit regimes. In this initial launch, the relief was only for Small and Medium-sized enterprises (SMEs) with a super deduction rate of 150%.
2002: R&D Tax Credits for Large Companies
Following a successful launch of the SME regime, the UK government extended the R&D credits to large companies.
2004: First Amendment to the BIS (now BEIS) Guidelines
Learning from the first four years of claims, the UK government issues the first (and only) major update to the R&D tax credits eligibility criteria.
2013: Launch of RDEC
The Research and Development Expenditure Credit (RDEC) was launched for expenditure incurred after 1 April 2013. This enabled large companies (and SMEs who have undertaken funded R&D) to claim a payable tax credit at a rate of 10% of qualifying expenditure.
2014: SME Rate Increase
The SME super deduction rate increased from 225% to 230% for expenditure incurred from the 1st April 2015.
2015: RDEC Rate Increase
For qualifying expenditure incurred from 1 April 2015, the RDEC rate was increased from 10% to 11%.
2017: RD Relief tested on first clients
RD Relief, the new, innovative way of claiming R&D Tax Credits was launched for test on a small, select number of clients.
2018: RD Relief launched
RD Relief was launched across the UK, allowing companies to maximise their claim while saving their precious time and money. Sign up today.