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Consultative Committee On ER - Meeting Notes

Looking for a link to the minutes of a consultative committee meeting on ER

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I have recently spoken with the tax helpline Tax Action to discuss whether ER can be claimed on the strike off of a company with a large cash surplus. One point the adviser mentioned was that there was a HMRC consultative committee around 4 or 5 years ago where the matter was discussed. Although there was no official guidance published as a result, I am told that a note included in the minutes did say that it would be hard to challenge a claim where the cash was just left passive in the company's bank account.

Has anyone else heard of this, and does anyone have a copy of the link to the meeting notes that would share?

Kind regards

Chris

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By Alfietheaccountant
31st Mar 2020 22:37

I don’t have a link as requested but don’t think there is a problem - HMRC guidance on this is I believe relatively clear if you analyse the various points they make in their manuals and apply it to this situation. Very basically that cash left passively shouldn’t be an issue when looking at a trading company for ER purposes when the position is looked at in the round.

HMRC certainly seem to think their guidance is clear as, although they have in the past, seem to no longer provide clearance as they do not believe there are any areas of uncertainty .

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