Technical News

HMRC have advised us about an OTM campaign for which the letters have recently been issued. The purpose of the project is to write to vulnerable companies in the retail sector and warn them about unscrupulous R&D agents seeking to misrepresent the tax relief schemes.

The CIOT understands that HMRC is writing to Limited Liability Partnerships (LLPs) that have open compliance checks relating to the application of the Salaried Member Rules (SMR) to set out its compliance approach whilst the BlueCrest case remains in the higher courts.

CIOT has exchanged emails with HMRC to clarify the application of the rules around going concerns where there is an intra-group transfer of trade, but the transfer does not happen in the accounting period for which the R&D claim is being made.

Following discussions that the CIOT (and others) have had recently about HMRC’s approach to CIR reporting company (RC) appointments.  HMRC have reconsidered their approach and we have received the email below from HMRC setting out the key points of their new approach. HMRC will also be setting out our position in a forthcoming Agent Update.