As part of a clampdown on the misuse of research and development (R&D) tax credit, HMRC has arrested a gang making fraudulent claims worth millions
The arrests were part of a wider investigation into suspected criminal attacks, eight people were arrested on 12 October, including a tax agent.
These individuals are suspected to have conspired to submit over 100 fraudulent research and development tax credits (RDTC) claims, totalling over £16m, and laundering the proceeds.
A group of 130 officers of HMRC’s Fraud Investigation Service executed warrants across multiple locations across England.
We've seen several highly dubious R and D claims in the motorsport sector, many involving entry level formulae where the regulations require the use of control chassis and engines, thereby making the scope for any R amd D claims very limited.