UK HMRC has launched a consultation on draft measures meant to prevent abuse of R&D tax relief for SMEs. This includes the introduction of a limit on the amount of the payable tax credit that can be claimed by a company, which will be set at three times the company’s total PAYE and National Insurance contribution (NICs) payment for a period. The whole of the PAYE and NICs liability which is payable during the accounting period to which the claim relates will count towards the cap, not ju…