02 Nov 2022

HMRC Fund Release Delays

HMRC Fund Release Delays

HMRC Fund Release Delays

A recent update from HMRC confirmed that some Research & Development Tax Credit payments are being delayed as a result of investigations into irregular claims.

There will be enhanced, extensive compliance checks and standard processing times will increase as a result of this.

HMRC will be aiming to pay claims within 40 days with the ambition of returning to the standard 28-day processing time as soon as possible.

This can be a huge inconvenience to those needing access to their Tax Credit payments. As part of TBAT’s R&D tax claim service, we can ensure you don’t have to wait as long as the maximum 40-day processing time from HMRC.

As part of our process, we can introduce clients to a third party for access to bridging finance to ensure you don’t go without payment.

Advanced funding on your R&D tax claim can alleviate the pressure and stress from business cashflows and growth opportunities.

Book an appointment to find out more about how we can help you stay on track.

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If you need any assistance understanding how this may affect your R&D Tax Credit claims, our team is here to help! Simply get in touch by completing the form below.

To begin a claim, you can also use our online R&D Tax Credit calculator to work out how much you could receive from HMRC.

 

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Assists organisations in accessing research and development grant funding across a range of UK and EU schemes and industry sectors.

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