COVID-19 – R&D Claims

BLOG7th Apr 2020

Although these are uncertain times due to the impact of the COVID-19 pandemic, HM Revenue & Customs (“HMRC”) have confirmed their commitment to processing Research and Development (“R&D”) tax relief claims timeously to ensure companies eligible for repayments will still get these issued within 28 days if they are a small or medium sized claimant.

With cashflow even more important now than ever, a successful R&D tax relief claim can be vital, and can result in a reduced Corporation Tax liability or a cash repayment from HMRC. Accelerating the preparation and submission of R&D claims will also speed up the timing of any repayments due.

Therefore, we would encourage all companies undertaking R&D activity to consider how they can accelerate making their R&D claim.

If you would like to discuss R&D tax relief, how a claim can be accelerated  or how we can assist your company in making a claim, please contact our R&D Team at innovations@aab.uk – we would be happy to help.

Find out more about the Corporate Tax team.

If you are unsure about what Government support package is available to your business, we are here to help. 

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Corporate Tax covers a broad and complex area of tax legislation, so we provide a suitably broad and comprehensively experienced team to support your business with pragmatic, commercial advice. Businesses of all sizes and types, and across a wide range of sectors, benefit from our comprehensive corporate tax compliance and advisory service. We have exceptionally knowledgeable tax teams distributed across our offices, ready to support you with their wealth of experience and expertise. We can manage your global tax exposure with a coordinated response that saves you having to seek advice from separate advisors.

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