Advance Assurance is used to give companies a guarantee that any R&D claims will be accepted if they are: in line with what was discussed and agreed claimed within the first 3 accounting periods If your company is applying for R&D relief for SMEs for the first time, it could qualify for Advance Assurance. Your company does not need Advance Assurance before it applies for R&D tax relief.
Who can apply for Advance Assurance
You can apply for Advance Assurance if you are:
- a SME
- planning to do R&D or already have done
- part of a group and none of the companies linked to you have made a claim before
You can’t apply if you are:
- entered into a Disclosable Tax Avoidance Scheme (DOTAS)
- a corporate serious defaulter
You can apply for Advance Assurance yourself or your agent can do it for you.
Information you need to apply
To apply for Advance Assurance you’ll need:
- your company accounts
- your company registration documents (from Companies House)
- HM Revenue and Customs (HMRC) correspondence
- previous company tax returns (not needed for new companies)
- the name of a contact with a direct knowledge of your R&D to discuss the application with HMRC
You’ll need to give some basic information about your company and detailed information about your company’s R&D activities.
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Working with R&D Tax Solutions enables your service offering to be extended without jeopardising client service or quality. We are the trusted R&D partner for a variety businesses. Our trusted team enables the partnerships to flourish with a clear transparency of services provided and benefits obtained.