The Rise in Fraudulent Claims: One of the primary reasons is the uncovering of a staggering £1.13 billion in fraudulent R&D claims. Such a significant figure has naturally led to a more cautious approach by HMRC.
The Implications for Businesses: With increased scrutiny comes a more rigorous verification process. Businesses now face longer waiting times for claim approvals and a higher likelihood of enquiries.
Staying Ahead: Ensuring watertight R&D claims is more crucial than ever. This involves thorough documentation and understanding the claims process intricacies. In 2022, HMRC bolstered their team with 100 additional compliance officers, leading to increased enquiries, especially into lower value claims. These new "case workers", not being qualified tax inspectors, have heightened the need for businesses to seek expert advice and be meticulous in their claim preparations.
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Please contact us using the enquiry form or call 0845 555 8844 if you would like to discuss any of the issues in this article or if you a seeking assurance that your claims are completed correctly.
