Refunds and repayments of tax during COVID-19

Acceleration of excess Research and Development tax credit instalments

Excess Research and Development (R&D) tax credits are usually:

• paid in three instalments
• not paid earlier than the Corporation Tax pay and file deadline in which the expenditure occurred.

Due to the exceptional circumstances of the COVID-19 pandemic, Revenue accelerated the 2021 instalment payment of excess R&D tax credit.

In selected cases the payment was subjected to the appropriated checks.

How to request acceleration of payments

To enable payment of the excess credits, at the time of the request, the form CT1 must have been submitted for the company’s accounting periods ending:

• in 2020
• and
• up to March 2021.

Make a request to accelerate the excess R&D tax instalments through MyEnquiries in Revenue Online Service (ROS). To do this:

• click ‘Add new enquiry’
• select ‘Corporation Tax’ from menu ‘Enquiry relates to’
• select an ‘R&D instalments payable in 2020 and 2021’ from menu ‘More specifically’
• enter your query text in the ‘Enquiry details’ box
• attach supporting information or documents by selecting ‘Add files’ if required
• click submit.

Next: Refund of healthcare insurance premiums