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South West companies have just three months to capture a profit on past years' R&D investment

Tax experts at Bishop Fleming have warned that innovative companies have a looming deadline to claim a 150% tax credit for research and development investments made over the past six years

According to Andrew Browne, Bishop Fleming’s senior tax partner:  “Right now, the Government is allowing some companies to make a profit on R&D expenditure by reclaiming up to 150% of investments made over the past six years.

“But from next April, claims will only be accepted for the previous year”, said Mr Browne.

“In truth, many companies are unsure whether their activities qualify for the 150% credit.  But any delay in lodging a claim runs the risk of losing a rare opportunity to make a profit from an R&D expenditure”, he added.

The South West is a regional hub for technology companies, spanning a range of sectors from computer software to energy management.

“This little-known tax benefit has particular relevance to many of the innovative companies working in the South West”, said Mr Browne.