Firms lose out on R&D tax credits as taxman reinterprets the rules

摘要

Business organisations have joined the call for HM Revenue and Customs to clarify its position on what it defines as research and development eligible for the R&D tax credits scheme.rnTax accountancy experts have highlighted problems with the way HMRC is interpreting guidelines designed to help firms understand what is eligible for R&D tax credits.rnAccording to experts, the HMRC has selected one phrase from Department of Trade and Industry guidelines written in 2004, included to stop people claiming for routine production, and has broadened its meaning to cut back on the amount of money it is paying out under the scheme.