The Office of Tax Simplification’s recent review of capital allowances found ‘no conclusive case’ for replacing the current rules with accounting depreciation. But might a solution that encourages energy efficiency be one area for reform?
A tribunal decision highlights a flaw in the preparations for making tax digital.
Newspapers (remember those?) and websites have reported in varying degrees of detail the success of Siobhan McLaughlin in the Supreme Court ([2018] UKSC 48). This was the case in which an unmarried mother whose long-term partner had sadly died claimed that she ought to be entitled to the same widowed parent’s allowance as would have been paid to her had she and her partner been married.
Entrepreneurs’ relief is one of the most expensive reliefs for HMRC and it is forecast to cost £2.7bn in 2018. With a think tank recently expressing the view that ER is ‘quite likely the worst tax relief in the UK’, is it possible that the chancellor might reach a similar conclusion and introduce changes in the next Budget?
The Office of Tax Simplification’s recent review of capital allowances found ‘no conclusive case’ for replacing the current rules with accounting depreciation, reports Steve Smith (JLL). But might one area for reform be a solution that encourages energy efficiency?
Offshore property companies should prepare for the April 2020 switch from income tax to corporation tax in respect of their UK property income.
Justine Riccomini considers what might happen to timing of the draft Scottish Budget this year as a result of Brexit negotiations.