The Window Explained: Previously, once a claim was approved and funds were received, businesses believed they were in the clear. However, HMRC now has a 4-year window during which they can open an enquiry into any claim.
Implications for Businesses: This extended window means businesses need to maintain their documentation and records related to R&D claims for a longer period. It also means that even if a claim has been approved, businesses aren't entirely free from potential scrutiny.
Staying Prepared: The best approach for businesses is to always be prepared. This means keeping thorough records, regularly reviewing past claims, and being ready to provide any necessary documentation if HMRC opens an enquiry.
Need assistance?
Please contact us using the enquiry form or call 0845 555 8844 if you would like to discuss any of the issues in this article or if you a seeking assurance that your claims are completed correctly.
