FOI Ref: FOI/2023/4917
You asked
I would like to ask for the following information in respect of two aspects of tax, Corporate Interest Restrictions (CIR; Part 10 of the Taxation (International and Other Provisions) Act 2010 as amended) and Qualifying Asset Holding Companies (QAHCs; Schedule 2 of the Finance Act 2022).
Corporate Interest Restrictions
1. How many CIR returns has HMRC received per year from 2018 up to the most recent year you have data?
2. How many of these were found to be late or inaccurate?
3. What is the largest fine which has been issued for an inaccurate return?
Qualifying Asset Holding Companies
4. How many entry notifications for the QAHC regime has HMRC received so far since April 2022?
5. Of these, how many have been entry notifications for newly-established companies, and how many have been for existing companies seeking to enter the QAHC regime?
6. What are HMRC's projections for the volume of entry notifications for the QAHC regime per year?
7. Of these, how many are projected to be entry notifications for newly-established companies, and how many are projected to be for existing companies seeking to enter the QAHC regime?
8. What are HMRC's projections for the volume of QAHC information returns per year?
We said
Thank you for your request.
We report on economic activity and populations, including business populations. HMRC share with us some elements of tax data relevant to our statistical and survey operations. HMRC collect far more tax information than we receive.
We have no involvement with tax penalties or other HMRC enforcement actions.
We have approached HMRC requesting to use elements of Corporation Tax data to cover a wider range of the business population than covered by the data we currently hold. We have yet to agree the content of this supply. Therefore, we do not hold data relevant to this FOI request.
HMRC maybe better placed to assist with your query. They can be contacted at foi.request@hmrc.gov.uk.