Whilst the 2022 Spring Statement was light on details that will impact most larger businesses, the Chancellor Rishi Sunak did announce the government’s planned changes to the UK’s research and development (R&D) tax incentives to ensure that the regime is not only beneficial to claimant companies, but also delivers the best possible value for taxpayers.

Some specific sectors and types of business will benefit from these plans, which have been developed following consultation to better understand the impact of the R&D regime on UK companies.