‘Free money’: £4bn lost to fraud and error on flagship HMRC ‘innovation’ scheme
by Jon Ungoed-Thomas from on (#6PPYC)
UK tax credits to promote research and development were claimed by a pub for changing its menus and by window cleaners for hanging their buckets
A government scheme to champion new research and boost the economy has cost more than 4bn in fraud and error since 2020 after widespread abuse.
The research and development tax credits scheme was designed to help drive world-leading innovation, but turned into what has been described by experts as a wild west" with huge volumes of dubious claims.
Continue reading...