Our member, ForrestBrown, shares an important update about claiming R&D tax relief.
HMRC has introduced a requirement for businesses to notify them in advance of their intention to make an R&D tax relief claim.
Notification isn’t just for businesses new to claiming: it’s also for those that:
- Haven’t made an R&D claim in the past three years, or
- Have filed an R&D claim but on an amended tax return after 1 April 2023.
If you intend to make a claim, then you need to let HMRC know within six months of the end of the accounting period for which you wish to claim. For example, businesses with a March year end (and who meet the criteria above) will need to notify HMRC about their 2025 claim by 30 September.
Remember, if the new requirement applies and you don’t notify HMRC, you’ll lose the right to make an R&D claim for that period.
Staying across the key dates relating to your accounts and R&D claims can be challenging, so ForrestBrown has created a tool to check your key deadlines.