Error and fraud in business tax schemes cost the UK £4.1bn

Billions of pounds of taxpayer money have been lost to error and fraud in tax schemes designed to encourage research and development in business. Critics say some companies are claiming the tax breaks even if they are not doing any research or development. HMRC's latest accounts reveal £4.1bn has been squandered since the schemes were introduced in 2020. It said the levels of error and fraud were "unacceptable". The figures come as the new government rows with the old one about a "hole" in the public finances. Labour says it...