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In November 2015 HM Revenue and Customs (HMRC) introduced Advance Assurance for companies that claim Research and Development (R&D) tax relief.
This means that for the first three accounting periods of claiming for R&D tax relief, HMRC will allow the claim without further enquiries.
Applying for Advance Assurance is voluntary and you can do this at any time before the first claim for R&D tax relief. Your company can still apply for R&D tax relief without Advance Assurance.
What does it involve? - If you qualify for Advance Assurance, you will have your own HMRC specialist to help you through the sometimes complicated process of successfully applying for R&D tax relief.
Your company can apply for Advance Assurance if it’s planning to carry out, or has previously carried out R&D. It has to meet certain conditions which are that:
If your company is new, you can still apply, as long as you haven’t claimed R&D tax relief before.
Who can’t apply for advance assurance? - If your company is part of a group and another company within that group has made a claim for R&D, HMRC won’t accept application and HMRC won’t offer Advance Assurance if your company:
Registered office: 61 Friar Gate, Derby, Derbyshire, DE1 1DJ
Adrian Mooy & Co is the trading name of Adrian Mooy & Co Ltd. Registered in England No. 05770414
Registered to carry out audit work by the Association of Chartered Certified Accountants - auditregister.org.uk 8011438
61 Friar Gate Derby DE1 1DJ