R&D Tax Relief Boosted to 20 Points in 2024 for its 10th anniversary!

In 2024, we mark the 10th anniversary of the Research and Development (R&D) tax relief scheme, a decade-long journey of evolution and commitment to fostering innovation. Starting January 2024, the R&D tax relief will be adjusted, increasing from 19.59 points to a full 20 points! This 0.41-point increase translates into an additional 2% savings for companies actively engaged in R&D activities.

Since the scheme’s inception in 2014, it has evolved considerably, and this enhancement reflects the continuous efforts to make it even more supportive for R&D-focused organizations. The government’s decision to revise the calculation rules for R&D tax relief allows companies to apply the full 20 points relief, addressing technical issues that previously hindered complete relief in one of the last efforts made.

This milestone is more than a numerical adjustment; it represents a tangible commitment from the government to empower R&D-driven companies. It echoes the continuous efforts of the government throughout its mandate to create a conducive environment for R&D.

However, to ensure the continued attractiveness and success of the scheme, securing the right assessment from Skatteverket is imperative. Their evaluation plays a crucial role in the sustainability and viability of the program.

From the inception of its term, the government has consistently sent positive messages to the business sector by proactively amending tax relief policies and appointing a dedicated R&D committee. This committee is diligently working to address the challenges faced by companies involved in R&D activities, aiming to provide clear guidelines and streamline the process for claiming tax relief.

As we eagerly await the handover of the R&D committee’s conclusions, this increased R&D tax relief is a new signal of their commitment toward R&D in the business sector.

In conclusion, this positive step forward, coupled with the celebration of our 10th anniversary, paves the way for a future where our R&D endeavors are not just acknowledged but actively encouraged.