Lee Sharpe considers how HMRC’s campaign against poorly-founded research and development relief claims may be undermining genuine claims and probably government policy.
Readers will be aware that HMRC has long had concerns about research and development (R&D) claims under the small and medium-sized enterprise (SME) regime, particularly those that resulted in a ‘real money’ tax credit payable to the claimant company. This article sets out how HMRC’s approach to R&D claims has changed over the years.
Long, long ago…
The SME R&D regime was introduced for companies over 20 years ago. A few years later, in or around 2006, HMRC opened seven specialist R&D centres to help companies identify tax-eligible R&D projects, and to compose their claims accordingly. My dealings with the members of HMRC’s Manchester team were largely
