R&D Tax Credit transferred to next Accounting Period was not used up but can't get it paid out.

Our previous R&D Tax Credit claim resulted in a cash refund, which was issued as a HMRC credit on the next accounting period's corporation tax. After completing our most recent accounts we did not use up all this tax credit, so now our corporation tax account shows a negative balance (money owed to us). We contacted the HMRC phone helpline to get the refund paid and they said they could see it but they can't release the money as the credit was issued by the R&D team. We have emailed the R&D incentives team but have had no response. Isn't HMRC obliged to repay overpaid corporation tax once asked, under the Taxes Management Act 1970 Section 59DA? HMRC Admins, what can we try next please? Our RDTC claim was over 40 days ago and we have emailed rd.incentivesreliefs@hmrc.gov.uk about this, last time was more than 5 days ago.

Cookies on Community Forums