Statements: Update: HMRC delays. 40 days for R&D tax relief claims
- R&D Tax Credits
- 5 Min Read
HMRC has increased its expected turnaround on claims from 28 to 40 days.
A few weeks ago, MPA was made aware that HMRC had placed a hold on the payment of some research and development tax credit claims. We were warned that delays in processing were also to be expected.
Today, 14th June 2022, HRMC has confirmed that this delay is still in place and will continue for an undisclosed period of time.
The delay is due to enhanced compliance checks being done on R&D claims, and as such HMRC has increased its expected turnaround on claims from 28, to 40 days.
Mike Price MD and owner, MPA
While it is good that there is more diligence being applied, so that only robust claims are allowed through, it is an unfortunate side effect that the whole system has slowed down.
As previously stated, HMRC has requested claimants (including advisors) refrain from contacting them via the usual helplines regarding specific claims whilst this work is ongoing.
We’re receiving regular updates from HMRC and will continue to keep you updated.
If you’re not currently an MPA client but need additional support filing a robust claim or advice on stabilising cash flow within your business, please do get in touch.
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