Disclosure opportunity for overclaimed R&D relief

HMRC has opened a new disclosure service for companies that may have overclaimed research and development (R&D) tax relief in past years.

The new service is open to companies that have mistakenly claimed too much R&D relief but are out of time to amend their company tax return.

It is not available to companies whose behaviour was deliberate such as where they knew they owed tax or had overclaimed R&D tax credits but chose not to tell HMRC or where the claim was deemed fraudulent by HMRC because the company activity did not qualify for the relief at all. In addition it should not be used by companies who are within the time limit to amend their company tax return.

To make a disclosure taxpayers must submit the online form and upload supporting calculations. At the end of the form there...