MayBE, MayBE not

‘Will BE Studios, the company slated by a High Court judge for its “grossly exaggerated” R&D tax credit claims, be able to pay the money back to HMRC?’ experts are asking. BE was paid £150,000 in R&D tax credits, erroneously, according to a High Court judge.

BE says the question is ‘academic’ since it deserved the credits ­ and can prove it if necessary.
TS’s curiosity remains active.

BE’s accounts for 2003, the latest available, reveal turnover of £30,000, payments to directors of £10,000 and profits after tax (credits) of £2,702. BE also has outstanding loans of several hundred thousand pounds.

The company’s R&D credits would have been better spent on genetically engineering a goose to lay a golden egg. We’ll leave you to make up your own mind.

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