HMRC launch new R&D Disclosure Facility

HMRC have launched a new online R&D Disclosure Facility.

This is designed to make it easier for companies, or their agents, to disclose inaccuracies in R&D claims. 

It should only be used where:

• a company has claimed too much R&D relief;
• the R&D claim in question cannot be corrected by amending the company tax return, as the time limit has passed; and
• the company's behaviour was not deliberate.

Any deliberate inaccuracies should be disclosed via the Contractual Disclosure Facility instead. 

The R&D Disclosure Facility process is via an online form, and requires the uploading of computations, explanations and the submission of a letter of offer.  Once received, HMRC will review the disclosure and if the offer is satisfactory a letter of acceptance will be issued. 

We would be interested in hearing feedback on this new facility.  Please send any comments you may have to [email protected]