Businesses are facing an increased risk of being investigated for non-compliance when making claims for tax relief on research and development, a leading specialist has warned.
Following the announcement in November’s Autumn Budget of an additional £155m to help HMRC tackle tax avoidance, Jumpstart managing director Scott Henderson is predicting a rise in challenges of R&D relief claims. Those found to be making erroneous or over-inflated claims risk being excluded from applying for future reliefs, and could be subject to a review of previous tax records dating back 20 years.
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