It confirms that the definition of R&D for the purposes of claiming R&D tax relief is set out in statutory guidelines issued by the Department for Science, Innovation & Technology (DSIT), but warn that there are many misunderstandings of what constitutes R&D under these DSIT guidelines and that the new guidance is intended to expand upon their existing guidance on these DSIT guidelines and does not represent a change in their view of the law.
It also includes reminders of recently introduced additional statutory requirements for companies to submit an additional information form to support R&D claims made in corporation tax returns from 8 August 2023 and for certain companies to notify HMRC if they are planning to make an R&D claim for accounting periods beginning on or after 1 April 2023.
It confirms that the definition of R&D for the purposes of claiming R&D tax relief is set out in statutory guidelines issued by the Department for Science, Innovation & Technology (DSIT), but warn that there are many misunderstandings of what constitutes R&D under these DSIT guidelines and that the new guidance is intended to expand upon their existing guidance on these DSIT guidelines and does not represent a change in their view of the law.
It also includes reminders of recently introduced additional statutory requirements for companies to submit an additional information form to support R&D claims made in corporation tax returns from 8 August 2023 and for certain companies to notify HMRC if they are planning to make an R&D claim for accounting periods beginning on or after 1 April 2023.
