AI is a leading-edge technology that is constantly evolving. Many companies believe that if they merely adopt the use of AI, it qualifies for R&D Tax Credits. For example, we had a company state that they researched a number of AI models and spent considerable...
As many of you know, HMRC has been increasing compliance checks of R&D Tax Relief claims. According to recent statistics, HMRC believes there is still a large group of companies filing R&D Tax Credit Claims who are non-compliant,. So these checks will not stop...
According to HMRC R&D Tax Credit statistics, roughly 90,000 companies filed R&D Tax Credit claims in 2022. Of this amount, about 78% were small and medium-sized enterprises (SMEs). Even though HMRC are carrying out an increased number of compliance checks. We...
As you know, there have been many changes to the R&D tax credit program over the past 2 years. Here are some of the common R&D questions we get from accounting firms and companies. What are the chances of having a compliance check on an R&D tax credit...
HMRC’s new approach to R&D Tax Credit claims has resulted in a significant challenge to many companies. With the plethora of changes to the R&D tax relief programme, none have been more important than HMRC’s increased focus on what qualifies as an eligible...
Recently, the Chief Executive of HMRC was under pressure from the House of Commons Treasury Committee surrounding R&D Tax Credit fraud and error. He was asked to explain how R&D Tax Credit fraud and error had all of a sudden increased from £336 million to...
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