From 1 April 2023, a range of new reforms to the R&D tax credit scheme were introduced, including several measures to prevent abuse of the R&D tax credit scheme. One of these is the requirement to submit a Claim Notification to ensure your R&D tax credit claim is valid.
Not everyone is required to submit a notification. HMRC has proposed that it should be mandatory for:
To ensure you do not miss your chance to claim R&D tax relief, we’ve put together some key questions to help you prepare.
If it is your first time claiming R&D tax relief and your accounting period starts on or after 1 April 2023, then you will need to submit a Claim Notification.
Additionally, if your company has not made an R&D tax relief claim in any of the previous 3 calendar years, and your accounting period starts on or after 1 April 2023, then you will also need to submit a Claim Notification.
For accounting periods starting on or after 1 April 2023, companies must submit a Claim Notification form for their R&D claim to be valid.
To submit a Claim Notification form, the earliest date you can begin is on the first day of your accounting period.
The latest deadline for this submission comes 6 months after the end of that same accounting period.
Note that if a company makes its R&D claim before the deadline for submitting a notification, they do not have to also submit a Claim Notification form.
For your Claim Notification to be valid, you must provide:
We’re here to help. Over 1000 UK companies have trusted EmpowerRD’s R&D platform and specialists to help them build optimised, compliant R&D tax claims.
Book a call with one of our team to see how we can help you.