Have you submitted your December R&D claim?

BLOG29th Nov 2019

Research and Development (“R&D”) tax relief is a government initiative to support businesses investing in innovative activities. There are two R&D tax relief schemes that companies can claim under – the SME scheme and the large company or RDEC scheme. Both are beneficial to companies in either reducing a tax liability or creating a payable tax credit.

The claim for R&D tax relief is included within the company’s Corporation Tax return that gets submitted to HMRC.

The deadline for claiming R&D tax relief is two years from the end of the accounting period in which the R&D was undertaken. For example, if your company carried out R&D activities in the period ended 31 December 2017, the claim is required to be submitted by 31 December 2019. Although a Corporation Tax return’s filing deadline is one year after the accounting period end, a return can be amended to include an R&D tax relief claim.

By preparing and submitting an R&D claim as early as possible, this will help to maximise the claim and ensure the company receives the benefit of the claim as early as possible.

If you have a qualifying R&D project in the years ended 31 December 2017 and 31 December 2018, we can help your R&D claims in advance of the year end.

How can AAB help?

  • Establish whether your company qualifies for R&D tax relief;
  • Provide advice on the requirements for supporting documentation and records;
  • Work with you to prepare and submit claims to HM Revenue & Customs. 

If you have any queries, please do not hesitate to get in contact with Andrew Blair, Corporate Tax Senior Manager, or your usual AAB contact.

How AAB can help you with

Tax Investigations

HMRC’s powers allow them to investigate the tax affairs of any individual or business. We understand this can be difficult and distressing, but we’ll support you throughout an enquiry, working hard to minimise any penalties. Our team members have many years’ experience of dealing with tax investigations, from both working for HMRC and spending a significant amount of time advising our clients.

View our tax investigation service

Related services