Research undertaken by Jumpstart, one of the UK’s leading R&D tax relief specialists, found there was a significant backlog of R&D tax claims which had resulted in delays processing tax rebate payments.
Jumpstart said currently SMEs claiming the relief are facing a wait of more than 90 days as HMRC is just beginning to administer applications made at the start of April 2019 – significantly later than the agency’s four week target.
The firm found that Research and Development Expenditure Credit (RDEC) claims for larger companies are experiencing even greater delays, with HMRC currently not processing any submitted after December 20 2018.
A spokesman for HMRC said it was “sorry” for the time taken and said it had hired additional staff to try to speed up the process.
HMRC’s practice notes for the R&D specialist units say an expected turnaround time should be around 28 days. According to the agency, these are not achieved in 95% of cases.
Outstanding!
Tax does have to be taxing.
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As long as they are 'sorry', that's the main thing. Nice that they are 'hiring staff' too. Where from? One might ask.
ReplyDeleteIf they hadn't closed a load of offices, losing decades of experience in the process they wouldn't need to hire people.
Not that anyone really gives a shit. Just dish out the apologies.