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Less than a quarter of media firms’ R&D claims go unchallenged

24 May 2024
Issue: 4938 / Categories: News

Over three quarters of media businesses were challenged by HMRC over research and development (R&D) claims a survey of media firms has revealed. The research conducted by RSM found that 40% of firms had made at least one claim for R&D tax relief of which less than a quarter (24%) had R&D claims approved by HMRC without challenge in the past year. A third (33%) had a claim which was challenged before HMRC finally approved it and a further third (33%) had at least one R&D claim declined by HMRC in the last 12 months.

Constantine Costas tax partner at RSM UK said: ‘This research is concerning as it suggests media businesses are struggling to make successful claims for R&D tax reliefs. These reliefs provide a vital lifeline to encourage businesses to develop new innovative technologies...

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