For accounting periods commencing on or after 1 April 2023, new claimants must adhere to a strict notification deadline. Failure to complete the claim notification form within six months of the year-end will result in any R&D claim being lost. The notification requirement also applies to companies whose last claim was made more than 3 years before the last date of the claim notification period. For example:
If the accounting period in which you incur R&D costs
runs from 1 January 2024 to 31 December 2024:
- The end date of the accounting period is 31 December 2024, therefore;
- New claimants, or those that have not made a claim since 30 Jun 2022, must submit the claim notification form between 1 January 2024 and 30 June 2025.
Companies who have previously claimed R&D relief are exempted from this requirement as long as the claim was made during the three years ending with the deadline to submit a pre-notification, but beware, certain claims submitted by an amendment to the tax return, are disregarded from the three-year exemption. Therefore, those companies who have a history of claiming R&D relief close to the two-year submission deadline will be required to pre-notify.
If a company falls within pre-notification rules, but doesn’t notify, any R&D claim will be removed from the CT600. If this occurs after 6 months of the year end, the company may lose its opportunity to make an R&D claim for the year.
If your Company undertook R&D during the year commencing on or after 1 April 2023 or has made R&D Tax Relief claims in the past and is considering making further claims in the future, please ensure you discuss this matter with your MHA Relationship Manager or Partner at the earliest opportunity, as delay may result in a qualifying R&D claim being denied. Get in touch with our specialists today.
The company will be required to complete a digital form, where aside from some general company details, it must provide a summary of the high-level planning activities.
