Super deduction allowance and SR allowance
We released the computation templates covering periods ending in FY 2021 in July. As stated in the release notes, HMRC had provided no specific guidance on how super-deduction and SR allowance should be reported on the CT600, despite requests. We therefore followed the existing guidance, in including the allowances in boxes 695 and 705 with total allowances for the respective pool.
Some guidance has finally been provided by HMRC, although the CT600 guide itself has not been updated, HMRC have instead added notes to the ‘Corporation Tax: service availability and issues’ page of the website. This advises that the online service will be updated in April to support a new version of the CT600 form, which includes new boxes specifically for the relevant allowances and charges. It also gives guidance for including allowances and charges in the CT600 before the online service is updated, which is contrary to the existing guidance and how ONESOURCE completes the form.
We have also recently been advised that the online service will also be updated in April to support a new version of the CT600L, required to be completed when payable R&D is being claimed. This will mean that the new version of the CT600L must be completed from 1 April 2022 in certain scenarios, particularly for SME R&D.
We are therefore aiming to release an update to ONESOURCE by early April next year, that will allow the new version of the CT600 forms to be developed into FY 2021 files for submission. This should ensure that there will be no issues with submission of files containing payable R&D claims, as well as ensuring that claims for super-deduction and SR allowances are included in the new boxes provided.
To allow this, we will not be making any interim changes in respect of the revised guidance on completion of the CT600 for super-deduction and SR allowances claims prior to April 2022. This will not impact the submission of files, as this data is statistical rather than calculational. If you are making a submission with these claims, we will be happy to assist in amending the relevant figures if you contact the support team.