HMRC suspends payment of some R&D tax credits - Ad Valorem
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HMRC suspends payment of some R&D tax credits
While it investigates some questionable claims, HMRC has halted the payment of some research and development (R&D) tax credits. The majority of R&D tax credit claims, according to ICAEW, will be unaffected. However, claimants may expect delays in their typical processing timeframes as HMRC attempts to prevent exploitation of the relief.
Claimants should not call the R&D helpline or mailbox to pursue their claims, according to HMRC. Instead, it has instructed agents and businesses to check their online accounts for updates on claim status. Claimants are reminded to complete the R&D portion of the corporation tax return in its entirety (CT600). Additional information, such as an R&D report, should be submitted to substantiate any claim.
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