delete The Research and Development Relief (Information Requirements etc.) Regulations 2024
These Regulations amend the Relief for Research and Development (Content of Claim Notifications, Additional Information Requirements and Miscellaneous Amendments) Regulations 2023 by substituting Schedule 2 with extensive information disclosure requirements for R&D tax relief claimants. The regulations specify detailed requirements including: claimant company details, responsible officer information, agent/adviser details, project-level information (with complex rules limiting which projects need detailed reporting), granular breakdowns of qualifying expenditure across 8-10 categories, R&D intensity threshold calculations, IP-related information, and Northern Ireland-specific limits. They also amend electronic communications regulations to mandate electronic filing of associated R&D information. The regulations apply to claims made on or after 2nd October 2024.
While R&D tax relief is valuable for economic growth, these information requirements impose substantial compliance costs that risk deterring precisely the innovative companies Britain needs to attract post-Brexit. The detailed project-by-project disclosures, 8-10 category expenditure breakdowns, externally provided worker tracking with PAYE references, contractor payment reporting, and connected company information requirements create significant administrative burden that disproportionately affects smaller companies. The 10-project cap and complex selection rules demonstrate how regulatory accumulation has created an unnecessarily complex regime. HMRC's fraud prevention objectives, while legitimate, can be achieved through targeted verification rather than comprehensive disclosure mandates that raise costs for all claimants including legitimate ones.