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Contact usHMRC previously paused some R&D tax relief payments while they investigate an increase in irregular claims. See the latest update.
HMRC previously notified agents that they have paused some R&D tax relief payments while they investigate an increase in irregular claims. Their investigations are continuing, but an update is now available.
To prevent abuse of the relief, HMRC will be enhancing their extensive compliance checks. These additional checks will mean their standard processing times will increase.
For the vast majority of claims, HMRC has said it will aim to either pay the payable tax credit or contact you regarding the claim within 40 days. It aims to return to the standard 28 day processing times as soon as possible. Gov.uk guidance will be updated shortly.
HMRC wanted to share this update to notify legitimate claimants that their RDTC payments will take longer to be processed.
It has said it appreciates agents’ and claimants’ patience while they handle these claims and continue to offer the guidance below:
HMRC asks R&D claimants to bear with them and kindly not to contact the R&D helpline/mailbox to chase their claims.
We will continue to share updates when we have further information.
Hooke Biotechnology have secured €5.5m in blended finance from the highly competitive Horizon Europe EIC Accelerator to develop Mera.
Good news for the UK's science and technology sectors! The United Kingdom will join Horizon Europe and Copernicus programmes through a bespoke agreement with the European Union.
You may have seen a host of changes announced in the Spring Budget in March affecting the R&D Tax Relief scheme. But what do they actually mean for your claim, and how can you start preparing for them?
Please contact us to discuss how working with Myriad Associates can maximise and secure R&D funding opportunities for your business.
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