Following the announcement of longer processing times for research and development (R&D) tax credit repayment cases (allowing HMRC to perform additional compliance checks), ICAEW’s Tax Faculty has sought further clarification from HMRC. This includes how R&D claims are processed in cases where advance assurance has been given, and why repayments are not being received even if the repayment is shown as being due.
HMRC has confirmed that the longer processing times also apply to those that have been through advanced assurance.
HMRC has also clarified that the longer processing time still applies if the repayment is shown as being due. This is because the additional checks are carried out once the repayment has been created within the system.
Tax Faculty
This guidance is created by the Tax Faculty, recognised internationally as a leading authority and source of expertise on taxation. The Faculty is the voice of tax for ICAEW, responsible for all submissions to the tax authorities. Join the Faculty for expert guidance and support enabling you to provide the best advice on tax to your clients or business.
More support on tax
ICAEW's Tax Faculty provides technical guidance and practical support on tax practice and policy. You can sign up to the Tax Faculty's free enewsletter (TAXwire) which provides weekly updates on developments in tax.
Sign up for TAXwireJoin the Tax FacultyThe future of tax after COVID
As digital technologies transform society, the UK government is grappling with balancing the books while ensuring its tax system is fit for purpose. Join us as we take a look at the issues and challenges facing the tax system.
Read moreMore from the Tax Faculty
Latest news
TAXwire
Stay up to date with the latest developments in tax by signing up to the Tax Faculty's weekly e-newsletter
Practical guidance
TAXline
Comprehensive support for Tax practitioners each month from the Tax Faculty and expert contributors.
Technical support
Webinars
Expert advice from the Tax Faculty's technical managers on all the developments in tax policy and practice.