It looks like any tax motivation is becoming fair game, writes Eloise Walker (Pinsent Masons).
In a year of political upheaval (domestic and abroad) tax law tends to go one of two ways – fireworks and excitement or bland steady state – and 2024 was a year of the latter at least as far as legislation was concerned.
Finance Acts
In this year’s Finance Acts (FA 2024 and F(No. 2)A 2024) of the provisions of interest to business practitioners only a few things really stood out.
With royal assent in February FA 2024 made permanent the full expensing of expenditure on new plant and machinery giving 100% first-year allowances for main rate expenditure. It also brought into law the much-argued over new regime for corporate research and development which amongst its provisions replaced the old R&D reliefs (one for SMEs one...
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It looks like any tax motivation is becoming fair game, writes Eloise Walker (Pinsent Masons).
In a year of political upheaval (domestic and abroad) tax law tends to go one of two ways – fireworks and excitement or bland steady state – and 2024 was a year of the latter at least as far as legislation was concerned.
Finance Acts
In this year’s Finance Acts (FA 2024 and F(No. 2)A 2024) of the provisions of interest to business practitioners only a few things really stood out.
With royal assent in February FA 2024 made permanent the full expensing of expenditure on new plant and machinery giving 100% first-year allowances for main rate expenditure. It also brought into law the much-argued over new regime for corporate research and development which amongst its provisions replaced the old R&D reliefs (one for SMEs one...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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