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Are you required to submit a Claim Notification to HMRC when filing an R&D tax credit claim?
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:
- Companies planning to submit R&D tax claims for the first time.
- Companies that have not submitted a claim for 3 years or more.
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.
Does my company need to submit a Claim Notification?
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.
When do I need to begin submitting 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.
How long do I have to submit a Claim Notification form?
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.
What information do I need to provide for my Claim Notification to be valid?
For your Claim Notification to be valid, you must provide:
- The company’s Unique Tax Reference (UTR) number must be correct and correlate with that on your CT600.
- Contact details of the main internal R&D contact at the company – this is the person from the business responsible for the claim.
- Contact details of any agent involved in the R&D claim.
- The agent reference number (if you have one).
- The period of accounting start and ends dates, which must correlate with your tax computations.
- Start and end dates of the accounting period you’re claiming R&D for only – again; this must be correct and align with that on the CT600
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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.
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