Delays in processing research and development (R&D) tax claims are hampering innovation and expansion among UK businesses, according to R&D tax relief specialist Jumpstart.
The Edinburgh-based company said a backlog of claims, along with the resulting delay in tax rebate payments, is creating a barrier to growth.
Small and medium-sized enterprises (SMEs) now face a wait of more than 90 days, while larger companies claiming research and development expenditure credit (RDEC) are having to wait at least seven months, said Jumpstart.
It cited HMRC saying it achieves its expected turnaround time of 28 days for SME R&D tax credit claims in 95 per cent of cases.
Article originally on The Scotsman
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