COMPANIES that incur costs for research and development could be entitled to cash back from the Inland Revenue, says a Bolton accountant.

Tim Lwin, of Barlow Andrews, Chorley New Road, says that firms could still get tax relief on R&D costs incurred in the last two years.

Mr Lwin said: "For example, if you spent £30,000 on R&D during the year, you could claim cash back of £7,200 with interest.

"This tax relief has been around since April 2000 and the scope to apply for the cash back and relief has been extended."