UK Xero Tax - R&D intensive for period prior to 1st April 23
I see you have recently livened up the functionality for R&D Intensive Companies to claim 14.5% tax credit, but only for accounting periods commencing on or after 1st April 2023. Will you be adding functionality for companies with periods commencing prior to 1st April but ending after 1st April 2023? We have some clients with December 2023 year ends who are R&D intensive and would like to claim the additional relief for expenditure from 1st April 2023.
Thanks
Samantha Hollands
shared this idea
Hi team, this is now live! 🎉We now cater for enhanced R&D intensive support (ERIS) allowing you to claim a higher rate of payable tax credit for R&D intensive companies. You'l find this is available for any accounting periods that straddle April 2023 and beyond.
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Sarah Grandison
commented
Any update on this Xero? We have clients in this position
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Rob Allin
commented
Please can Xero give this urgent attention
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Ryan Snape
commented
Thank you Samantha. We have several clients in this position as well, and the R&D intensive rules apply to expenditure incurred on/after 1 April 2023, not accounting periods starting on/after this date. Will Xero be expanding this to allow accounting periods starting earlier than 1 April 2023?