New R&D Tax Relief Notification Rules Effective Since 1 April 2023

As of 1 April 2023, new regulations require companies to submit a claim notification form during the ‘notification period’ under specific circumstances.

Who Needs to Submit a Claim Notification?

• First-time Claimants: If your company is claiming R&D tax relief for the first time.
• Infrequent Claimants: If your last claim was more than 3 years ago.

Understanding the Notification Period

The claim notification period begins on the first day of the period of account covered by the financial statements and ends 6 months after the end of this period.

Key Points to Remember

• Timely Submission: Ensure you submit the claim notification to HMRC within 6 months after the period of account ends to ensure your R&D Tax Relief claim may be accepted (subject to the usual conditions for relief).
• Annual Claimants: Companies making annual R&D Tax Relief claims do not need to submit a claim notification unless there is a break in claims being made.

By adhering to these new rules, you can ensure your R&D Tax Relief claims are processed smoothly and efficiently. If you have any questions or need further assistance, please do not hesitate to contact us.