Kate Gott Corporate Tax Director

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Kate Gott

Corporate Tax Director

Kate joined Wilson Wright in 2016, having predominantly worked within the UK’s top 10 accounting firms over the previous decade.

She is a chartered tax adviser specialising in advising businesses and their owners. She works for a wide range of clients, including companies, LLPs and partnerships.

Her areas of expertise include research and development tax credit work, both international and domestic tax efficient structuring, transfer pricing, and due diligence. Kate also has significant experience of working with private equity structures and professional service firms.

She works closely with her clients to ensure they keep up to date with their tax compliance obligations and are aware of tax planning opportunities and changes to the tax legislation that may affect them.

7 Jul 2023

Impending changes

The accounting periods for 2023 and 2024 will bear out a raft of changes in Research and Development (R&D) legislation, amongst these, there are two unavoidable and universal submission requirements to be placed upon all companies claiming R&D relief, in the form of:

• Advanced Notification (aptly termed ‘pre-notification’ by many); and
• Additional Information forms.

Advanced Notification Requirements

Companies intending to make an R&D claim will need to submit a claim notification form (i.e., the Advanced Notification form) prior to making an R&D claim. The deadline to submit the Advanced Notification is within six months of the end of the accounting period to which the R&D claim relates.

If not submitted within this timeframe, HMRC has the power to conclude that the claim is invalid and deny any R&D relief, on this basis.

An Advanced Notification form is necessary when:

• You are claiming for the first time; or
• You have claimed for the previous tax year, but you did not submit that claim until 6 months after the end of the period of account; or
• Your last claim was made more than 3 years before the last date of the claim notification period.

An Advanced Notification form can only be submitted by:

• A representative of the company itself; or
• An agent acting on your behalf (e.g., Wilson Wright).

To complete the Advanced Notification form, further information, such as the company’s Unique Taxpayer Reference (UTR) and main contact, will be required, together with additional supporting information required by HMRC.

A detailed list of the necessary additional information, required to complete the form, can be found here.

Additional Information Requirements

Alongside the digital submission of R&D claims, an Additional Information form must be submitted, to support all R&D relief claims submitted from 01 August 2023.

Below is a selection (not the complete list) of the key items which must be included in the Additional Information form:

• Description of the R&D work undertaken;
• A breakdown of costs across categories;
• The name of the agent who has advised the company;
• Company details;
• Qualifying expenditure details;
• Qualifying indirect activities (training required to directly support the R&D project); and
• Project details (please see table below).

For the full list of detailed information required, please click here.

Failure to submit an Additional Information form will mean that the R&D claim is deemed invalid. HMRC has the power to remove the claim from the company’s tax return and, depending on the circumstances, may do so.

The Additional Information form can only be submitted by:

• A representative of the company itself; or
• An agent acting on behalf of the company (e.g., Wilson Wright).

If you have concerns or would like to discuss the impact this may have on your business, please do contact our experts. In addition, please do contact us if you would like to input and provide comments to the consultation.