Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make an assessment of the adequacy of the notice provided by HMRC to small and medium-sized enterprises of delays to the processing of their applications for research and development tax credit payments.

Research and Development tax reliefs are a vital driver of innovation, growth and productivity and are crucial to the government’s pledge to grow the economy. It’s important that these reliefs are easy to claim and are provided quickly to genuine claimants.

HMRC does not currently have a delay or backlog and is exceeding performance against its published goal to either pay or make contact regarding the claim for 85% of claims within 40 days.