HMRC has become a target for fraudsters making illegitimate claims for tax relief, warns RSM.

In particular, it appears both the enterprise investment scheme (EIS) and the seed enterprise investment scheme (SEIS) have been subject to widespread abuse. 

The SEIS and EIS initiatives are government schemes that encourage investment into start-up and scale-up companies. In return for putting their funds at risk and providing investment capital to early stage companies, individual investors can receive substantial income tax and capital gains tax relief.