Major changes to the R&D tax credit scheme

01 June 2023

August 1st will see some of the biggest changes in the process of claiming R&D tax credits since the scheme began in 2000. From that date, all R&D claims, irrespective of which tax year they are for, must meet the new requirements – HMRC will reject all incomplete submissions.


In this blog, we will look at how upcoming changes to reporting might impact you.

From August 1st, businesses must describe all projects covering 100% of qualifying expenditure. For those with 4 to 10 projects, a minimum of 3 projects must be described, accounting for at least 50% of total expenditure, while for those with 11 or more projects, the 10 largest projects accounting for at least 50% of total expenditure should be described.

There are six prescribed detailed technical questions covering each project:

  • What is the main field of science or technology
  • What was the baseline level of science or technology that the company planned to advance
  • What advance in that scientific or technological knowledge did the company aim to achieve
  • The scientific or technological uncertainties that the company faced
  • How did your project seek to overcome these uncertainties
  • Which tax relief you’re claiming for and the amount

What does this mean for you?

This increased level of complex reporting may challenge accountants lacking R&D expertise or technical knowledge. You may face difficulties accurately capturing and presenting the required information, potentially leading to incomplete or incorrect submissions.

The shift to new online HMRC portal requires accountants to quickly adapt to the technological aspect, with only a 30-day completion timeframe once the submission is initiated.

In the UK, Visiativ has been managing R&D tax credit claims for over 15 years. (You might remember us as Jumpstart and latterly, ABGI). We can support you through these changes – with advice and guidance or by managing part or all of the process.

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