The Research and Development (Prescribed Activities) Regulations SI 2023/293 provide details of activities that are, or are not to be treated as research and development for the purposes of ITA 2007,s 1006 with reference to the Business, Energy and Industrial Strategy.
Activities prescribed as research and development. For the purposes of section 1006 of the Income Tax Act 2007—
- Activities treated as research and development in accordance with the “Guidelines on the Meaning of Research and Development for Tax Purposes” issued by the Secretary of State for Business and Trade on 7th March 2023, are treated as research and development, and
- activities not treated as such in accordance with those Guidelines are not treated as research and development.
A Tax Impact and Information Note have not been prepared in relation to these changes as they contain no substantive changes to tax policy.