What is the Purpose of the R&D Additional Information Form?
The R&D Additional Information Form ensures HMRC has all necessary details to assess your eligibility for R&D tax credits efficiently. Introduced on 8th August 2023, it aims to streamline claims for both SME and RDEC tax incentives, reducing the likelihood of follow-up enquiries from HMRC.
Implementation Date
The form became mandatory from 8th August 2023, following several changes announced in April 2023. These included adjustments to relief rates and the introduction of new qualifying expenditures.
Required Details for the Form
To complete the form, you need:
- Company Details: VAT registration number, UTR, PAYE reference, SIC code.
- Contact Details: Senior person responsible for the claim or authorised agent.
- Project Details: Number of R&D projects, scientific/technological field, project aims, and uncertainties encountered.
- Scheme Selection: Specify whether claiming under SME or RDEC scheme.
- R&D Qualifying Costs: Detailed breakdown of eligible expenditures.
- Indirect Activities: Support activities related to the R&D project.
Who Can Submit the Form?
A company representative or authorised agent can submit the form, which must be done before filing the Corporation Tax Return to avoid removal of the R&D claim.
Submission Process
The form is submitted electronically through HMRC’s online system. Upon submission, HMRC provides a reference number, confirming receipt.
Impact on Alexander Clifford’s Processes
Alexander Clifford integrates the form’s requirements into their client consultations, ensuring comprehensive data collection for both the form and the R&D claim. Their robust compliance processes ensure high success rates despite the procedural changes.
Seeking Support for Your R&D Claim
The introduction of the R&D additional information form marks a significant shift in the claims process, enhancing accuracy and efficiency. To maximise your R&D tax credits and ensure compliance, consider partnering with Alexander Clifford for expert guidance and support.
For more information on the R&D additional information form and to get assistance with your claim, visit additional information form R&D.
