Research & Development Tax Credits

Details	2018/19	2019/20	2020/21	Notes
SME enhanced deduction scheme	130%	130%	130%	A
SME cash credit for R&D loss surrendered	14.5%	14.5%	14.5%
Large company above the line scheme credit (RDEC)	12%	12%	12%	B

A – Additional (enhanced) tax deduction available for qualifying R&D expenditure. From 1 April 2016, the only scheme available to large companies is RDEC.

B – Tax credit available on qualifying R&D expenditure. RDEC rate increased to 12% on qualifying expenditure incurred on or after 1 January 2018. The rate was 11 % prior to the change.

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