I completed my first ever CT600 with repayable R&D tax credit in December. Very small amount and all the entries seem correct even the tick box to say a refund due and correct bank account details. The return was filed online and shows 0.00 tax due now on the HMRC account and the return is shown as received. But there has been no repayment and it does not show as due. Is this normal ? How long should the client generally have to wait for a refund ? Could I have missed something ?
I don't really want to hang on HMRC phone system just to be told they can't find the 64-8 (cynical moi ?) if I'm just being impatient.
Replies (5)
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not long
Have done a few of these and to be fair to HMRC they usually process them quickly as long as they have all the info they need as well as the CT600. I always fax a letter to local CT ops emphasising the urgency of the repayment to the client (that is invariably the case with these) and they are usually processed within a fortnight.
The problem is ...
... that R&D tax credits require a manual adjustment to the company record, unlike most refunds that are reflected automatically on processing of the return. I'd get a letter off to HMRC ASAP.
Usually 30 days
Usual payment time is between 30 and 45 days.
I would give the HMRC R&D unit a call as they usually answer straight away and if you give them the clients UTR they should be able to let you know what the latest is with their claim.
Which unit you need to call is dependent on the clients registered office postcode -
http://www.hmrc.gov.uk/manuals/cirdmanual/CIRD80360.htm
Then unit contact details are here -
http://www.hmrc.gov.uk/manuals/cirdmanual/CIRD80350.htm
no problem
As the HMRC do see an increase in the number of claims in December it can sometimes take a bit longer, probably worth making contact in early Feb.