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Randd welcomes HMRC’s stance on increased compliance

Randd welcomes HMRC’s stance on increased compliance

Randd welcomes HMRC’s stance on some R&D claims after reports of irregular activity from certain claimants came to light, with a number of claims being paused by, whilst additional compliance checks are carried out.

We are delighted to report that none of randd’s clients have been affected by these developments, and we encourage diligent policing from HMRC to retain the integrity of the R&D Tax Credits scheme.

There have been some reports of delays on certain claims being processed, and HMRC has advised that the inclusion of the Corporation Tax Return (CT600) and any supporting evidence could ensure a smoother process. This process is standard practice for randd, and as specialists in such matters, we will continue to monitor the guidance issued by HMRC in order to maintain our high standards.

Matt Timby, Finance Director at our R&D Division, commented on the situation: “Whilst none of our clients have been impacted by the investigations, we understand the need for thorough investigations from HMRC. It is important to stress that only a handful of irregular claims are being investigated and clients with legitimate claims are still receiving R&D cash rebates from HMRC every single day, so we haven’t noticed any delays with our own operations.

“It is important to understand that payments have only been paused for a select number of claims whilst they are under investigation.”