Green Jellyfish, a consultancy, is under investigation by HM Revenue and Customs (HMRC) for allegedly submitting fraudulent claims for research and development (R&D) tax credits. The firm reportedly targeted ineligible sectors, including a butcher, a baker, and a candlestick maker, to secure state support. Dan Neidle, a tax lawyer, accused the company of submitting "a series of fake and potentially fraudulent" claims. The R&D tax relief scheme, costing the UK approximately £8bn annually, has faced significant abuse, with an estimated 26% of claims in 2021-22 being erroneous or fraudulent. Neidle remarked: "The shame of it is that there are biotech companies struggling to claim relief for really significant R&D, whilst invalid claims have cost the country billions of pounds."
