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Positive move
Key points
- The new guidance should help raise awareness and understanding of how to identify research and development (R&D).
- The examples apply activities in a real-world environment.
- The checklist for completing the new additional information form could be clearer.
- Guidance covers the importance of using a competent professional.
- It would be helpful if the Department for Science Innovation and Technology takes a more active role in keeping the definition of R&D up to date.
HMRC’s new guidance for making research and development (R&D) claims received little fanfare when published online at the end of October (tinyurl.com/hmrcranddguidoct23). This new guidance has landed at a time of much turmoil for R&D tax reliefs so what little commentary the new guidelines for compliance (GfC) (tinyurl.com/hmrcgfc) did generate tended to highlight how far removed it seems from current practice in HMRC’s volume compliance approach. However there is...
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