HMRC has provided an update on its recent pausing of RDTC payments while it investigates an increase in irregular claims. HMRC says that to prevent abuse of the relief it will be enhancing its extensive compliance checks. These additional checks will mean that HMRC’s standard processing times will increase.
For the vast majority of claims, HMRC now aims to either pay the payable tax credit or contact the claimant/adviser regarding the claim within 40 days, rather than the standard 28 day processing times. HMRC asks that R&D claimants ‘bear with us’ and do not chase their claims in the interim. It also asks advisers not to contact any HMRC officials about a claim. Instead, agents should check the company’s online account to check the status of their claim.
HMRC will continue to share updates when it has further information.
HMRC has provided an update on its recent pausing of RDTC payments while it investigates an increase in irregular claims. HMRC says that to prevent abuse of the relief it will be enhancing its extensive compliance checks. These additional checks will mean that HMRC’s standard processing times will increase.
For the vast majority of claims, HMRC now aims to either pay the payable tax credit or contact the claimant/adviser regarding the claim within 40 days, rather than the standard 28 day processing times. HMRC asks that R&D claimants ‘bear with us’ and do not chase their claims in the interim. It also asks advisers not to contact any HMRC officials about a claim. Instead, agents should check the company’s online account to check the status of their claim.
HMRC will continue to share updates when it has further information.
