Are there any time restrictions on claims?

The SME scheme applies to expenditure incurred on or after 1 April 2000.

SMEs claiming under the large company scheme can claim for expenditure as follows:

• if claiming because R&D has been sub-contracted to the SME by a large company, expenditure on or after 1 April 2002 is eligible for relief, and
• if claiming because R&D has been funded by someone else (e.g. State aid), expenditure for accounting periods commencing on or after 9 April 2003 is eligible.

Claims cannot be made under the SME or large company schemes for any spending prior to the above dates.

There are two relevant time limits for filing claims:

• claims for R&D tax relief must be made within six years of the end of the relevant accounting period, and
• claims for R&D payable tax credits must be made within two years of the end of the relevant accounting period and must be made in your CT return or an amendment to your CT return.