Launch of Research & Development Advance Assurance Service

R&D BlogHMRC have announced the imminent launch of an advance assurance service for smaller companies who are looking at making a claim for R&D tax relief for the first time.

The service will be aimed at companies with a turnover of less than £2 million per annum and having less than 50 employees.  It will be a voluntary, non-statutory scheme and successful applicants will receive assurance that HMRC will allow their first three years of R&D tax relief claims without further enquiry.

The information provided through the service will include bespoke guidance on R&D for smaller businesses and aims to give claimants a better understanding of how the R&D tax relief rules affect their business.

Information on how to access the service has yet to be released but, if it works as indicated, it will give smaller businesses much more certainty regarding their R&D claims, enabling them to plan more effectively for the future.

If you would be interested in this service please contact Claire Astley (claire.astley@pmm.co.uk) or Jonathan Cunningham (jonathan.cunningham@pmm.co.uk) who can assist with making an application.