HM Treasury (HMT) has launched a consultation seeking views on the design of a single, simplified research and development (R&D) tax relief scheme, merging the existing R&D expenditure credit (RDEC) and the small and medium enterprise (SME) R&D relief into an RDEC-like scheme. The new scheme, if implemented, would apply in respect of expenditure incurred from 1 April 2024. The integration of the existing schemes with a single approach may have a decisive impact on the future…