R&D tax credits and CT600: what are the changes?
R&D tax credit calculations will play a larger role in a company’s CT600, requiring advisers to publish even more information for HMRC scrutiny.
From April 2021, all companies submitting an R&D tax credit claim will be required by law to complete a supplementary page (CT600L) when completing their corporation tax self-assessment, or indeed when making an amendment. This will apply to companies under both the SME and RDEC tax reliefs.
Matthew Jones, managing director of LimestoneGrey, commented:
‘This is a welcomed addition to the R&D tax credit process. It will provide greater transparency for HMRC and will allow them to further crackdown on unjustifiable claims. A draft CT600L can be found by clicking the link below:
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