HMRC has confirmed today that they have revised their R&D processing timescales to 28 days which is great news for our R&D Tax Credit claims:
“In previous weeks HMRC has only provided details of the oldest claims currently outstanding. This did not give the full picture as a small number of unprocessed older claims would mask the volumes of claims being cleared. We can therefore additionally confirm that since 29 July 2019 HMRC has cleared RDTC 61% and RDEC 66% of the cases required to bring ourselves back within the 28 days. It remains HMRC’s aim to turnaround claims within 28 days by the end of September.
Please find below the dates of the oldest outstanding claims as at 16th September 2019.
R&D tax credits: the oldest outstanding claim was submitted on 17/07/2019.
RDEC claims: the oldest outstanding claim was submitted on 27/12/2018.
The Repayment security checks are being processed are 29/05/2019 for R&D tax credits & 21/12/2018 for RDEC claims
Please note that we are experiencing a high volume of claims at the present time so there will be a delay in receiving your payment.
You should allow a further 5 days from the latest applicable date detailed above for the payment to reach the relevant bank account or if BACS has not been supplied the payment may take longer to reach you.”
Link to the full article below: