HMRC hold back entrepreneurs

HMRC accused of holding back entrepreneurs

The slowness of the UK's tax authority HMRC is causing frustration among entrepreneurs, according to business group Buy Women Built (BWB). The group claims that its members have struggled to access tax incentive schemes designed to support start-ups, with delays in receiving tax credits leading to difficulties in paying bills. Female-founded companies are particularly affected, as they currently receive only 2% of venture capital in the UK. R&D tax relief and EIS tax relief are among the incentives that entrepreneurs are struggling to access. An urgent review is being called for to address the problems with HMRC.