The Pre-Notification Trap: How Life Science, Biotech and Med-Tech Companies Are Losing R&D Tax Credits
R&D Tax Credit Pre-Notification: A Critical Requirement for Innovators
Pre-notification is now a mandatory legislative requirement for certain companies intending to claim R&D tax credits. Introduced as part of HMRC’s reforms to the R&D tax relief regime, the rule applies to companies that are first-time claimants or those that have not made a relevant R&D tax credit claim in the previous three accounting periods. Affected companies must notify HMRC of their intention to claim within six months of the end of the relevant accounting period.