skip to navigationskip to main content

Phone: 0344 815 3790 

Email:

Choosing a Service

Choosing an accountant that matches your needs

What Our Clients Say

Read the reviews from some of our satisfied clients

icon-free-consultation

Free Initial Consultation

Understanding your accountancy requirements

Request a Callback

Lets talk at a more convenient time for you

R&D Tax Relief – Additional Information Required

Newsletter issue – October 2023

Research and Development (R&D) is a Corporation Tax relief that is a Government support to some UK companies working on innovative projects in science and technology. There are currently two R&D schemes:

  1. For large companies, Research and Development Expenditure Credit (RDEC) and
  2. For small or medium enterprises (SMEs), SME R&D tax relief

There are strict terms and conditions of eligibility and the Government has introduced measures to tackle what it perceives as abuse of this support package and non-compliance. At the same time, though, they have updated what counts as qualifying expenditure, including 21st century realities such as costs for data licences and cloud computing. 

For NEW R&D relief claims for accounting periods starting on or after 01 April 2023, from 08 August 2023 the following changes are in place:

  • New claims must be made digitally accompanied by a compulsory additional information form
  • Notifications must be made in advance of any R&D claim being made on a Corporation Tax return, and
  • The notification and additional information form must contain details of any agent involved with making the R&D claim

Note that not all companies involved in innovation will be entitled to claim R&D tax relief. An accountant will be able to advise on an effective and achievable business plan for your company and help make a grant application - or advise if an application will be turned down.

Great reasons and promises we make to you which is why you should call us before deciding on your accountant.

Our Promises

We’re a dedicated team which strives to provide success to our clients in regards to all their accountancy needs.

Meet our team