HMRC Is Shite

HMRC Is Shite
Dedicated to the taxpayers of Britain, and the employees of Her Majesty's Revenue and Customs (HMRC), who have to endure the monumental shambles that is HMRC.

Wednesday, 2 September 2009

Short Sighted

Mr MagooGrant Thornton believe that HMRC may change its interpretation of the rules which allow "tax super-deductions" on costs incurred for R&D.

HMRC may prohibit claims for any R&D costs which relate to products and services that are sold for use rather than scrapped.

Samantha Vanags, technology and R&D tax partner at Grant Thornton, claims in Computer Weekly that HMRC is increasing the number and toughness of challenges to these claims.

"Clamping down in this area goes directly against the original purpose of the relief, which was to stimulate R&D activity in the UK."

She is of the view that such a move is "short-sighted".

Tax does have to be taxing.

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