Alternative finance
HMRC are consulting until 9 April 2024 on reforms that would address the difference in CGT treatment when a commercial or residential property is refinanced using alternative rather than conventional finance methods. Comments are also invited on the extent to which capital allowances issues arise for those using alternative financing.
Closed: 9 April.
Business rates
Consultation responses published on business rates avoidance and evasion that outlines reforms to combat abuse of the system.
The government will be extending the Empty Property Relief “reset period” from six weeks to three months (13 weeks) from 1 April 2024 in England. This will reduce the financial incentive to avoid business rates on empty properties through “box shifting”. The government is also announcing a consultation on a “General Anti-Avoidance Rule” for business rates in England and committing to improved communications for ratepayers to help combat “rogue” business rates agents.
Capital allowances simplification
The government is holding...
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