HMRC issues advice to avoid R&D tax repayment delays

HMRC is warning companies of possible delays in receiving Research and Development (R&D) tax credits payments.

25 November 2021

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HMRC is warning companies of possible delays in receiving Research and Development (R&D) tax credits payments, as the department is expecting to receive a much higher volume of R&D tax claims between December 2021 and January 2022.

While HMRC remains committed to processing 95% of R&D tax credit claims within 28 days of receipt, they are warning this may take longer during the peak period.

The tax authority's advice to UK companies is to submit R&D claims as soon as possible to avoid a delay in receiving payments between December and January.

Read the full gov.uk article here