HMRC Research and Development Communication Forum
The HMRC R&D Communication Forum held its latest meeting last week, read the key points below.
13 December 2022
The Research and Development Communication Forum, meet twice a year to discuss the Research and Development (R&D) tax relief schemes available in the UK.
The HMRC R&D Communication Forum held its latest meeting last week. Whilst the most anticipated part of the meeting, the new digital forms demonstration, was cancelled, several key points were made.
- The R&D relief changes announced in the Autumn Statement will be legislated for in the Spring Finance Bill 2023, but there is still no timeframe for this.
- There is still an intention to move towards a single RDEC-type benefit for all claimants. The combined rate will be announced in the next budget statement. Afterwards, there will be a consultation period with the industry.
- As of now, the claim processing times are currently estimated to take 40 days. But, the aim is (following the year-end peak) to get this back down to the previous 28-day target.
- HMRC will launch another round of general compliance activity letters to claimants in early 2023. However, it is to be expected that there will be targeted compliance checks following the release of the advanced notification digital forms in April 2023.