If your clients’ accounting year ended on 30 June 2024, you need to act now.
The deadline to notify HMRC of their intention to claim R&D tax relief by submitting an Advanced Notification Form (ANF) is 31 December 2024.
Why is an ANF necessary?
The ANF is a new requirement introduced for companies intending to claim R&D tax relief or the R&D expenditure credit (RDEC) for periods starting on or after 1 April 2023.
It’s a measure designed to improve compliance and transparency.
Your clients must file an ANF if:
- They have never submitted an R&D claim before.
- They haven’t submitted an R&D claim in the last three years.
If your client fails to file the ANF where required, their claim will be invalid, no matter how legitimate their R&D activities may be.
This is where your support as their accountant becomes essential.
Companies are given a six-month window following the end of the relevant accounting period to file an ANF, hence why if your client’s end date was June, you’ll need to act quickly.
What is needed to file an ANF?
An ANF can be filed by either the company itself or by you acting on their behalf.
The submission will require high-level details about your clients’ R&D projects, including:
- Basic company information (name, contact details, tax reference).
- A summary of the proposed R&D projects, explaining how they meet eligibility criteria.
This information will assist HMRC with assessing the risk of these potential future claims. However, it is not necessary to submit any documentation other than the form at this stage.
Our R&D tax consultants can offer support by assisting accountants in helping their clients with R&D tax claims at each stage of the process.
Don’t let your clients miss the December deadline. Get in touch with our team today or expert R&D support.
