Mark Pashley, Corporate & Business Tax Partner comments on the recent confirmations by HM Treasury as part of the Spring Statement on 23 March regarding R&D tax credits.
HMRC have announced proposals which will see a further tightening of the compliance requirements in response to what they perceive as abuse of the system and “boundary-pushing” R&D claims. To address these concerns, all subsequent claims will have to be submitted digitally, will require more detail as to what expenditure a claim covers, include an endorsement of the claim by a named senior officer of the company, identify any involvement in the claim of a tax agent as well as requiring the early notification that a company intends to make a claim.
If you would like to explore R&D tax claims for your company contact a member of our team.
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