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 email@example.com – we would be happy to help.
To find out more about the team, click here
If you are unsure about what Government support package is available to your business, we are here to help. We have created a simple toolkit that cuts through the noise and makes you aware of exactly what help is available to you. It takes a few minutes to fill out and you can find it on our COVID-19 Information hub.