News

Alison Lovejoy

SME status change

HMRC Brief 55/08 issued on 14 November states:

'Change of SME (Small and Medium Enterprise) status for companies making claims under the Research & Development (R&D) and Vaccine Research Relief (VRR) schemes

'This Brief announces a change of our interpretation which will apply where a company's SME status alters due to its being taken over by or merging or becoming associated or linked with any other enterprise on or after 1 December 2008. The change will affect companies making tax relief claims under the Research & Development and Vaccine Research Relief schemes.

'Background

'It has been the practice to accept that if a company is an SME at any time in an accounting...

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SME status change

HMRC Brief 55/08 issued on 14 November states:

'Change of SME (Small and Medium Enterprise) status for companies making claims under the Research & Development (R&D) and Vaccine Research Relief (VRR) schemes

'This Brief announces a change of our interpretation which will apply where a company's SME status alters due to its being taken over by or merging or becoming associated or linked with any other enterprise on or after 1 December 2008. The change will affect companies making tax relief claims under the Research & Development and Vaccine Research Relief schemes.