In the UK Autumn Budget, the government set out its strategy to continue to encourage research and development (R&D) activity, with funding for R&D set to increase to £20 billion by 2023-2024 to help make the UK the ‘next Silicon Valley’.

Consultation on a proposed simplified single R&D credit scheme modelled on the existing R&D expenditure credit regime for all claimants.

New guidance from HMRC proposes significant additional information requirements for R&D claimants from 1 April 2023.

The Commission on Taxation and Welfare published its report on 14 September 2022.