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A Cosmetic Exercise?

Martin Wilson of The Capital Allowances Partnership LLP comments on the Government's latest response on the proposed changes to the system of capital allowances
The Government has recently published its response to consultations on changes to the way in which relief will be given for expenditure on plant and machinery.1 These changes will affect almost all taxpayers to a greater or lesser extent with investors and property owners being particularly badly hit. By the Treasury's own admission the principal changes will raise additional tax by April 2010 of more than £4 billion.
The consultation process launched last July (see The Tax Journal Issue 899 20 August 2007 and Issue 901 17 September 2007) should therefore have seen a vociferous response from businesses and their advisers ...

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