A previous press release provided a response from HMRC on the steps it is taking to deal with delays to processing of Research and Development (R&D) claims that are affecting both SME R&D relief and R&D expenditure credit (RDEC) claims.
U.K. companies are facing delays of six months and more in getting credits from the country’s tax authority, putting additional pressure on them amid the uncertainty of Brexit.
HMRC has apologised for taking up to seven months to process R&D tax relief claims which was alleged to be preventing some UK companies from progressing.
Delays in processing research and development (R&D) tax claims are hampering innovation and expansion among UK businesses, according to R&D tax relief specialist ABGI UK.
The UK’s technology sector is widely acknowledged as one of the fastest growing areas of the economy, with Prime Minister Theresa May describing it earlier this year as a "great British success story".
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