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The SME R&D tax relief scheme: lessons in how not to implement a tax relief

The SME R&D tax relief scheme: lessons in how not to implement a tax relief

Once again, the National Audit Office qualified HMRC’s accounts due to a “material level of error and fraud in Corporation Tax research and development reliefs”. Whilst the good news is that the estimated error rate within the relief is coming down it remains unacceptably high. It has taken years for HMRC to admit there were problems, despite plenty of warnings, and action has been too slow to avoid the situation getting totally out of hand.

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