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On 20 July 2022 the UK Government released draft legislation on the proposed changes to the UK R&D regimes. This follows the UK Spring Statement announcements and last year's consultation on improving the R&D regimes with the aim of ensuring the incentives are appropriately targeted and globally competitive.

The release provides some further detail on what these changes will look like in practice, but was lacking in clarity on certain areas where more details are expected in secondary legislation.

It is important that companies understand how these changes will impact their claims and R&D budgets going forward, particularly given the significant changes to qualifying costs and changes to the process for making claims. We would be happy to discuss this further with you. 

The key changes to the UK R&D regimes are as follows:areas covered in the draft legislation include:

Timing of changes