Whilst not mentioned in the chancellor’s speech itself, an expected outcome of the budget was the progression of the rollout of an R&D advance assurance service.
Within the documentation published alongside the budget, it was announced that the government will pilot a targeted advance assurance service from spring 2026. The aim of the service is to enable small and medium-sized enterprises to gain clarity on key aspects of their R&D tax relief claims before submitting to HMRC. This has the potential to be exceptionally useful in the backdrop of an uncertain R&D market, with HMRC currently enquiring into 1 in 5 claims.
While there is an existing Advance Assurance facility available to businesses, this has been criticised as being too narrow, being only accessible to a small number of companies.
If you have any questions about how the budget might affect you, do get in touch on 01242 776000 or tax@randall-payne.co.uk.
