Surprising Figures From New R&D Tax Claim AIF Submission Portal
HMRC recently introduced new rules for Research and Development (R&D) tax relief claims, including the requirement for all claimant companies to complete an Additional Information Form (AIF) for all claims from 8 August 2023. The AIF portal is a digital service available on gov.uk.
The introduction of the portal was well publicised by HMRC and during the summer many advisers released information bulletins about its pending introduction. It was widely communicated that claims submitted without an AIF form being completed would be rejected by HMRC.
It therefore comes as a surprise that HMRC have recently announced that between 8th August and 3rd September, almost 50% of claims were filed without an AIF being completed. This week, HMRC will begin writing to those customers – and, where authorised, their agents – to explain that their R&D claim is invalid and to tell them what they need to do to make a valid claim.
The figures demonstrate the importance of main agents and R&D agents working together closely on R&D claims. We suspect that some of the AIF failures will have been brought about by main agents filing CT600 forms without the knowledge of the R&D adviser. Both main agent and R&D adviser need to ensure that the steps now required to file an R&D are closely followed. It is imperative that the AIF submission takes place before the CT600 submission. Communication between both parties is therefore critical.
We also suspect that a number of the AIF failures will have been caused by a simple lack of knowledge. Despite HMRC’s efforts to publicise the new submission requirements, we are aware that many accountants are still unaware of the requirement to file an AIF.
Should you need any further information about the new submission procedures, please don’t hesitate to contact us at hello@yes.tax
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