R&D Tax Rebates - bit of a warning.
Discussion
An advisory post as I know a few here have been looking at this.
Two years ago we were approached by a reputable company that handles claims for the rebate of tax paid on expenditure relating to R&D. They did a good job and our accountants verified the claim to be proper and correct. £22k rebate paid. Happy days.
This week, we have received notification that HMRC are launching an enquiry into this claim.
This - apparently - is common place and part of an internal 'process now; check later' policy within HMRC.
Both the claims company and accountant have said that it is very rare for any enquiry to result in having to repay any rebate but still, we're now facing nine months of worry as our cashflow at the moment is not the best it could be.
The one good thing is that the claims company handles the whole HMRC enquiry as part of the original fees we paid to them.
Either way, do bear this in mind if you're in the process of claiming.
Two years ago we were approached by a reputable company that handles claims for the rebate of tax paid on expenditure relating to R&D. They did a good job and our accountants verified the claim to be proper and correct. £22k rebate paid. Happy days.
This week, we have received notification that HMRC are launching an enquiry into this claim.
This - apparently - is common place and part of an internal 'process now; check later' policy within HMRC.
Both the claims company and accountant have said that it is very rare for any enquiry to result in having to repay any rebate but still, we're now facing nine months of worry as our cashflow at the moment is not the best it could be.
The one good thing is that the claims company handles the whole HMRC enquiry as part of the original fees we paid to them.
Either way, do bear this in mind if you're in the process of claiming.
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