Claims for R&D reliefs which form a part of an amended return

01 Mar 2019

From 1 April 2019 all claims for Research & Development (R&D) reliefs which form a part of an amended return must include a completed CT600 and a Corporation Tax computation.

Those items can be included as enclosures to an email. Potential claims without both the completed CT600 and computations will be returned.

If the potential claim is returned near the closing date for making that claim HMRC will, for a short period, still accept a similar claim if it is returned in the required form within the next 30 days. The period during which this ‘30 day’ facility will be available will run from 1 April 2019 to 30 June 2019. The changes do not affect amendments which are made electronically.

Steve Govey, Head of Research & Development at Beavis Morgan comments: “This just demonstrates the importance of not only knowing ‘what to do’ but also ‘how to do it’. Companies who attempt to submit their own claims often fall foul of the detailed regulations that can trip up the unwary or inexperienced.

“The same can be said of the awaited forms that will aim to simplify applications. Claims that wrongly describe advancements sought or uncertainties overcome can lead to rejection and damage possibilities going forward.”

R&D tax relief provides excellent incentives for UK companies to invest in innovation but, as Steve explains, the claims process itself can complicated and convoluted, with lengthy paperwork and plenty of room for error. It is therefore essential that you seek specialist advice to ensure the risks are minimised and all aspects of the process are taken care of, thereby maximising your chances of getting all the money back owed to you.

Is your company involved in manufacturing, design or development of new processes/software or using existing processes or technology in a unique manner?

If so, get in touch. Our specialist team of tax and engineering professionals has made many successful claims on behalf of our clients across a variety of sectors including software development, online gaming, manufacturing, engineering, pharmaceutical, advertising and telecommunications.  

Research & Development Tax Credits – Recent wins for our clients: Spring 2019 update 

The reliefs can be extremely beneficial for those engaged in qualifying R&D, and Beavis Morgan can help your company maximise the benefits of the reliefs by:

  • Determining whether you are a qualifying company
  • Helping you to assess whether any of your activities qualify
  • Reviewing your activities to make sure you claim all that you are entitled to
  • Working closely with you to prepare and submit your claim to HM Revenue & Customs

For further information or to arrange for a no obligation preliminary meeting on how your company could qualify under the R&D scheme, please contact Steve Govey or your usual Beavis Morgan Partner. 

Further reading:
R&D Tax Credits – Why thousands of businesses are missing out
R&D Tax Credits for SMEs – A user guide