HMRC has placed certain research and development (R&D) claims on pause while it investigates some irregular claims.
Hazlewoods understand that the majority of R&D tax credit claims will not be affected, however claimants are advised that there will be delays to the usual processing times.
HMRC has also requested that claimants do not contact the R&D helpline to chase their claims. Instead, it has asked agents and companies to review their online account for updates on the status of claims.
Claimants are reminded to complete all aspects of the R&D section of the corporation tax return (CT600). Submitting additional information to support any claim, such as an R&D report, will also help HMRC to process claims quicker.
For further details and advice, please contact Partner, David Clift at david.clift@hazlewoods.co.uk, or Director, Jemma Vaughan, at jemma.vaughan@hazlewoods.co.uk, or call 01242 680000.