Property tax consultations after the October Budget

Nearly three months on from Rachel Reeves’s Budget statement there has been much written and considerable fall out from many of the measures announced – in particular the National Insurance changes business rates and ‘tinkering’ with business and agricultural property reliefs and inheritance tax – with varying degrees of impact depending on who you ask for retail farming and leisure sectors. The various forecasts and economic ambitions have been under much greater scrutiny of late with many family and owner managed businesses concerned that the much vaunted ‘growth’ will be slow to arrive if at all.

Other business taxes were left largely untouched with only the promise of a future review and/or consultation. Among these were capital allowances (CAs) and land remediation tax relief (LRTR). This article explores the merits of consultation on these stalwarts of business tax relief and how...