Key points
- Businesses want certainty to enable capital allowances to be built into their business plans and investment decisions.
- Businesses also want a more strategic approach to review and enhance reliefs.
- Changes have been suggested with regard to environment and energy preservation; innovation and research and development; and incentives for loss making businesses among other areas.
- There is hope that the government will take on board the feedback for a more strategic approach rather than adopt the easy option of tinkering with existing rates or relief.
In the article ‘Is anybody listening?’ (Taxation 7 June 2022 page 18) Alun Oliver set out in detail the background to the current government consultation.
He outlined that the government was looking for feedback on the role that capital allowances (CAs) and the current 130% super deduction (SD) play in business investment decisions and feedback on the policy paper’s...
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