Recovery plan: early repayment of the research tax credit, loss carry-back claims and excess corporate tax instalments

Articles 93, 94 and 95 of the amending finance act for 2008, introduced by the Government as part of the recovery plan, accelerate three repayments to companies in 2009. Excess corporate income tax instalments paid for a financial year ending no later than 30 September 2009 can be repaid from the day after the year-end. Loss carry-back claims arising from a financial year ending by that date can be repaid on request in 2009. Unused research tax credit claims for 2005 to 2007 become immediately repayable, as does the excess research tax credit for 2008.