Introducing HMRC’s R&D tax credit online service
ForrestBrown participated in a long-running consultation with HMRC to help design this online service. Launched on 11 February 2019, it provides a format for HMRC to gather supporting information for SME R&D tax credit claims that we already provide as standard as part of our end-to-end claims process.
This service is not a substitute for preparing a robust R&D tax credit claim. It should only be completed after you have identified your qualifying R&D project(s), calculated your qualifying costsand the amount of any relief or credit. The new online service summarises the results of this process and provides this information to HMRC in a standardised format.
A full amended CT600 and computation should be completed prior to submitting this new form. For ForrestBrown clients, this is managed as part of our engagement.
HMRC have said a similar service will be made available for businesses making use of RDEC in May 2019.