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HMRC’s Additional Information Form—are you ready?

17th Jul 2023
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A flowchart describing the direction R&D tax claims will take post-August 2023 changes.
WhisperClaims

The mandatory use of HMRCs new Additional Information Form (AIF) is now only a few weeks away (8th August 2023), adding a huge new layer of admin and complexity to the preparation of R&D tax claims.

Yet, in conversation with accountancy firms in the past few months, it’s clear that many are still not aware of the change.

Why are accountants unaware of the AIF?

First of all, HMRC introduced two new ‘processes’ together earlier this year:

  1. The requirement to pre-notify HMRC of the intention to make a claim for R&D tax relief (if the claimant does not meet certain criteria) for claims starting on/after 1 April 2023, and the launch of the Additional Information Form
  2. The requirement to provide additional information to support R&D tax relief claims was expected to come into force for claim periods starting on or after 1 April 2023.

One of the surprises sprung on the R&D tax relief sector at the Spring Budget was the change in implementation date of the AIF. At the Spring Budget, it was announced this would now be required for all claims submitted on or after 8th August 2023.

However, outwith the RDCF, communication about this change has not been particularly loud. so here’s what you need to know:

How will this affect your clients?

This change of implementation date means that every claim submitted after August will need an AIF regardless of claim dates or when the claim was prepared, so that thousands more claims than expected will be affected. 

  • For claimant companies, complying with the requirements of the form will mean providing more information than ever before to HMRC. Claims not accompanied by an AIF will be invalid, and rejected by HMRC.
  • For advisors, complying with the form will mean updating both claim preparation and submission processes in order to make sure that the required information is gathered and the form is submitted at the correct point in the process.

How can you prepare?

The requirement to submit an Additional Information Form affects all stages of the claim process. To help get you ready for this change we’ve pulled together a downloadable guide of everything you need to know.

Download our AIF Ebook

We also have an exciting new feature that we will shortly be releasing within the WhisperClaims app that will provide our customers with a seamless and frictionless solution to complete the AIF as they go through the process of preparing their clients R&D tax claims.

Final thoughts

It's fair to say that the world of R&D tax is going through turmoil right now with extensive changes to legislation and, perhaps more importantly, significant shifts in HMRC's behaviour.

This has led to unprecedented stress levels in the accounting and consulting sectors, as service providers rush to find ways to adapt—or in some cases simply rush to the hills.

WhisperClaims are here to help! The combination of our R&D tax software and expert support is designed to take the stress out of our customers lives; to make the whole process of preparing R&D claims as painless as possible whilst remaining compliant and keeping ahead of the changes.

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Looking to expand your service offering?

The WhisperClaims software is the only fully-automated solution designed entirely to enable accountants to deliver cost-effective, robust R&D tax relief claim for their clients, maintaining brand identity and without the need to outsource.

  • Used by 150+ firms nationally
  • Over 3,000 claims processed to date
  • £500 million identified in eligible spend, representing over £125m in tax benefits