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Advance Assurance for R&D Tax Claims

POSTED BY: Arun Letchumanan

23 March 21

Applying for Advance Assurance for small companies that claim Research and Development (R&D) tax relief makes it easier for small businesses investing in research and development to claim tax relief.

R&D credits are a Corporation Tax relief that were introduced to encourage innovation and enterprise within the UK economy. Small and medium-sized enterprise can claim R&D tax credits of 230% for qualifying expenditure. There are different rules for large companies.

In order to apply for Advance Assurance, the company or agent needs to provide the following information to HMRC:

  • Company accounts
  • Company registration documents (from Companies House)
  • HMRC correspondence
  • Previous company tax returns (not needed for new companies)
  • The name of a main contact with a direct knowledge of the R&D process.
  • Basic company information
  • Detailed information on company’s R&D activities.

Successful applicants for the scheme will receive confirmation that HMRC will not open any enquiries into their claims for the first three accounting periods based on information submitted, discussed and agreed.

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