The clock is ticking on the introduction of HMRC’s new forms for R&D tax relief claims. As of August 2023, you’ll need to submit an Additional Information Form for all claims, regardless of the accounting period. This form has to be completed before the updated CT600 is submitted. Otherwise, HMRC will reject the claim.
You’ll therefore need to be ready for the new form, but help is here as we’re able to assist with this new process.
Setting up an Agent Services Account – we already have this set up, so you don’t need to worry!
Sort out your AML registration – as an R&D specialist, experienced and knowledgeable about financial regulations and legislation, we’re already on top of this!
From August, HMRC will reject any claims included on a CT600 form unless an Additional Information Form has already been submitted. If you’re thinking ‘shouldn’t there be some kind of grace period?’ then yes, there is one. We’re in it right now!
We’ve taken the time to understand what implications the changes in August will have on the submittal process and are able to ensure our clients will not see an adverse effect on their claims because we’ve been prepared for some time.
This is just one of the changes coming in from August, and more are expected after HMRC produce their review on the SME and RDEC schemes this year.
At PSS we are part of the wider R&D Community, a body bringing together specialists who are seeking to enhance the professionalism of the field of R&D and provide best in class service to UK businesses who qualify for this tax relief.
If you’re concerned that you haven’t been made aware by your agent or specialist about the changes and what implications there may be for you, or you’d just like to know more, at PSS we’re always happy to discuss options for new clients as well as seeking partnerships with accountants, investors and anyone else who believe we could help with their client base and network.
Reach out by emailing me directly on rob@pss-tax.co.uk or message on this platform and we can take the conversation from there.
Perfect Support Services Ltd (PSS) are a Tax advisory firm, specialising in R&D tax relief and Capital Allowances.
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