HMRC slow to make refunds

HMRC paid out £4.6bn to businesses in refunds for corporation tax last year, but delays in making payments are putting pressure on cashflow for some companies, according to research say Harris & Co accountants Northampton #accountantsnorthampton

Figures show that some 286,000 businesses received a corporation tax rebate in the year to 31 March 2013, equivalent to an average refund in overpaid tax of more than £16,000 each.

The number of approved claims for corporation tax refunds is down 17% on 2011/12 when there were 346,000. There were 386,000 in 2010/11.