We have talked about these changes previously. The intention of this blog is to simply point to all the latest information on forms.
The most immediate change that companies and accountants filing R&D claims are likely to see is the requirement for all claims filed from 1st August 2023 to have a completed additional information form. The form can be found here:
If you make an R&D claim through the company tax return but do not complete an additional information form the claim will be treated as if it had not been made. So the form is mandatory. In terms of the information required this is almost identical to the type of information that we as as an R&D consultancy have been collecting for years. The only difference is that rather than attaching it to a submitted CT600 this separate form will need to be completed. The link gives a good summary of the requirement for the form.
The other changes are likely to be less immediate as they cover accounting periods starting on or after 1st April 2023. the one that requires a form is the requirement for claim notification. This is likely to be required later than the additional information form as unless periods of account are shortened or lengthened it will not be seen until 2024.
“Who must notify
You must tell HMRC if you plan to claim Research and Development (R&D) tax relief or expenditure credit for accounting periods beginning on or after 1 April 2023 if:
- you’re claiming for the first time
- you’ve claimed for the previous tax year, but you did not submit that claim until after the last date of the claim notification period (the claim notification period ends 6 months after the end of the period of account)
- your last claim was made more than 3 years before the last date of the claim notification period
To tell us that you plan to claim you will need to complete and submit the claim notification form.
If you’ve not notified us when you’re required to, and you’ve already submitted your company’s Corporation Tax Return, we will write to you to confirm that we’ve removed your claim for R&D tax relief from your Company Tax Return.
If you’ve previously claimed using the paper Company Tax Return, you should submit a claim notification form to avoid any queries or delays when HMRC process your claim.”
If you are thinking of claiming then engaging with an experienced consultancy like ourselves will make navigating these new requirements far simpler. Get in touch today.
Christopher Toms – Director RandDTax