Corporation Tax Act 2009 section 1042C

Claiming the credit

Section 1042C sets out how a company claims an R&D expenditure credit (RDEC) and the time limits and notification requirements that apply to making such a claim.

• A company must make a formal claim under Schedule 18 to the Finance Act 1998 to obtain an RDEC.
• After the claim notification period has ended, a claim can only be made if the company has made an R&D claim in the previous three years, has submitted a claim notification within the period, or the accounting period falls within the same period of account as one already covered by an R&D claim or notification.
• Three gateway conditions exist as alternatives — only one needs to be met to allow a late claim after the notification period.
• R&D claims for accounting periods beginning before 1 April 2023 that were only added to a tax return by amendment on or after that date do not count towards the three-year prior claim history.