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    HMRC publish draft R&D guidance

    Earlier today, HMRC published draft guidance in relation to the changes coming into the Research & Development (R&D) scheme from 1 April 2023.

    The guidance covers various topics which have previously been flagged, such as the exclusion of overseas R&D work and an extension of the relief to include data and cloud computing costs.

    However, one key change detailed in the guidance is the requirement to submit a Claim Notification form within 6 months of the end of the relevant accounting period for any new claimants i.e. any companies who haven’t made an R&D claim for at least 3 years. If the form isn’t submitted within that deadline, you won’t be able to make the claim.

    The guidance also details a new Additional Information form containing substantial information about the claim (for accounting periods beginning on or after 1 April 2023), including details of a person at the company taking responsibility for the claim and the agents who helped to prepare the claim.

    The legislation will not be finalised until the Finance Bill 2023 and the final form of that legislation may differ from the draft published in July 2022, this means that the guidance issued could also change and no action should yet be taken based on it.

    You can view the full guidance here.

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    If you wish to discuss any areas of the guidance in more detail, please get in touch with your usual PM+M adviser or email

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