New information requirements for the electronic filing of RD relief incentives were formalised in the publication of SI / 2024 / 950 on 11 September. These consolidate the initial ‘Additional Information’ requirements first outlined in Finance Bill 2023 (Autumn) [1] providing HMRC with protection from erroneous or fraudulent claims. The Regulations cover claims within:

The ’old’ RDTR SME schemes;

The ‘old’ RDEC scheme;

The ‘universal’ RDTR scheme; and

The ‘new’ SME Intensive scheme.

In brief as we know, relief incentive claims must comply with the digital ‘AIF’ specification detailing contact and agent details; the company particulars; its RD operations and the calculation of eligible costs & relevant scheme(s) concerned for the accounting period.

The new regulations also provide for:

• Demonstration / quantification of an SME’s ‘RD Intensity’ by reference to its accounting data for the period of claim.
• The introduction of defined subcontractor cost analysis.
• Identification of the company’s business, satisfying the ‘relevant’ RD test.
• The electronic delivery of claim notifications under the Chapter 2 regulations, supplementing the FA 1998 [2] originating legislation by prescribing the delivery of data on the company’s tax return together with ‘associated RD information’.

The Regulations take effect on 2 October 2024 for companies registered in England & Wales and Northern Ireland.

They can be viewed here, and give effect to part of the consolidated 2023 reforms for RD relief incentives.