Changes to VAT penalties and interest from 01 January 2023
Research and Development spend The Office for National Statistics (ONS) has revealed that UK businesses spent £25 billion on Research and Development (R&D) in 2018.Data from the ONS showed that total R&D expenditure increased from £23.7 billion in 2017 to £25 billion in 2018.The report showed: the aerospace industry saw the largest increase in R&D…