A series of articles from The Times newspaper has placed a greater level of exposure on businesses illegitimately claiming Research and Development (R&D) tax credits.
Over the past week, The Times newspaper has shined a light on companies that have been “cashing in on questionable claims”, reported on an HMRC investigation into eight companies involved in £16 million worth of R&D fraud, and written about the abuse of the tax break which has come at a “huge cost to taxpayers.”
We have previously written about HMRC’s crackdown on R&D tax relief claims here. However, this recent and intense media scrutiny will inevitably catch the attention of HMRC and further reinforce the Treasury’s commitment to clamping down on the widespread abuse of the scheme. It also reinforces the need for businesses to work with expert R&D advisors they can fully trust, being confident of their competence.
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Our tax team’s focus remains in ensuring R&D claims are legitimately maximised. If you would like advice on an R&D tax relief claim, be it past, present, or future, our team will be more than happy to help. Get in touch below.
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