Onerous changes to the research and development (R&D) tax relief process, coming into force on 1 August, could deter applications from Scottish SMEs needing financial support for projects.
The new administrative regulations, which HM Revenue and Customs (HMRC) hopes will curtail fraudulent R&D claims, are likely to deter genuine claims from bona fide innovators.
As part of its campaign to identify malpractice, HMRC will require businesses submitting R&D tax relief claims to provide more granular information than previously, and to do so in digital format.
