HMRC has published new guidelines for compliance to clarify the type of work that qualifies as research and development for tax purposes and to help companies determine whether or not their claims are likely to be accepted.
Part 1 of the guidance summarises HMRC’s intentions in producing these new guidelines, to help claimants:
understand the meaning of ‘scientific or technological advance’ for the purposes of R&D claims, and identify the particular scientific or technological uncertainty that the project is seeking to resolve;
identify who is a ‘competent professional’, able to judge if a project is seeking an advance in science or technology for the purposes of an R&D claim;
decide where the project begins and ends for the purposes of an R&D claim; and
understand the evidence of a qualifying project HMRC may require.
HMRC has published new guidelines for compliance to clarify the type of work that qualifies as research and development for tax purposes and to help companies determine whether or not their claims are likely to be accepted.
Part 1 of the guidance summarises HMRC’s intentions in producing these new guidelines, to help claimants:
understand the meaning of ‘scientific or technological advance’ for the purposes of R&D claims, and identify the particular scientific or technological uncertainty that the project is seeking to resolve;
identify who is a ‘competent professional’, able to judge if a project is seeking an advance in science or technology for the purposes of an R&D claim;
decide where the project begins and ends for the purposes of an R&D claim; and
understand the evidence of a qualifying project HMRC may require.
