HMRC Brief No. 70/07 reminds companies that claims for Research & Development (R&D) tax relief for accounting periods ending before 31 March 2006 must be made by 31 March 2008.

According to the Brief,

“In a move to simplify the claims process it was decided to align the time limits rules for claiming R&D relief across the various R&D schemes.

This was done in Finance Act 2006 which introduced amendments to the existing claims rules. As a result, for accounting periods ending on or after 31 March 2006, all claims to R&D tax relief, including vaccine research relief, must now be made in a tax return and are subject to the normal Corporation Tax Self Assessment time limits for making, amending and withdrawing claims.

When the time limits were changed it was decided to introduce a transitional period to give companies time to make their enhanced deduction claims for past years. The transitional period covers accounting periods ending after 31 March 2002 but before 31 March 2006 and runs until 31 March 2008.”

The Brief, in its entirety, is available at http://www.hmrc.gov.uk/briefs/company-tax/brief7007.htm.