Understanding the R&D Tax Relief Claim Notification Form

Introduction to the Claim Notification Requirement

For businesses considering an R&D tax relief claim for the first time, or those who have not claimed in the last three years, understanding the requirements for the claim notification form is essential. Effective from accounting periods beginning on or after April 1, 2023, this form must be submitted before filing for R&D tax relief as part of recent regulatory adjustments to enhance the integrity of the scheme.

When to Submit the Claim Notification Form

Determining Eligibility: To understand whether you need to submit a claim notification form, consider the following questions:

1. Start Date of Accounting Period: Does your accounting period start on or after April 1, 2023.
2. History of Claims: Have you claimed R&D tax relief before? If yes, did you claim it within the last three years.

Filing Deadline: The claim notification must be submitted within six months after the end of the relevant accounting period. For example, for work conducted from July 1, 2023, to June 30, 2024, the deadline would be December 30, 2024. Early submissions are allowed from the first day of the accounting period, but it’s advisable only when you have a clear outline of the intended R&D activities.

Consequences of Missing the Deadline

Failure to meet the submission deadline typically results in the inability to claim R&D tax relief for that period. HMRC is strict with late submissions and only makes exceptions under extraordinary circumstances, such as illness of the responsible party. It’s important to prepare in advance to avoid missing the deadline.

Required Information for the Claim Notification

When preparing your claim notification form, you need to include:

• Company’s Unique Taxpayer Reference (UTR)
• Name and contact details of the main internal R&D contact
• Contact information for any agents involved, such as R&D tax relief consultants
• Start and end dates of the accounting period for the claim
• A high-level summary of planned R&D activities

This form does not require detailed proof of the R&D activities; however, such documentation will be necessary when you submit the full R&D claim.

Who Can Submit the Form?

The claim notification form can be submitted by:

• A company representative
• An authorised agent (your R&D adviser) acting on the company’s behalf

Expert Support from Accountancy Cloud

At Accountancy Cloud, our team of R&D tax relief experts is ready to assist you in preparing and submitting your claim notification form. With extensive experience, we ensure your claims are compliant. If you have questions or need guidance, especially if facing a missed deadline, don’t hesitate to contact us. We are here to support your success in navigating the complexities of R&D tax relief.

By addressing these key areas, businesses can effectively manage their R&D tax claims and benefit from the potential financial advantages under the guidance of Accountancy Cloud.