The government has published draft provisions to be included in Finance Bill 2020/21 together with accompanying explanatory notes other supporting documents and consultations. This analysis brings together the key business tax provisions and explains the changes being made.
The draft legislation for FB 2020/21 includes two further technical amendments to the CIR rules. These are being made to ensure the CIR regime works as intended and have been identified following engagement with affected businesses.
The first proposed amendment concerns the specific provisions in the CIR rules that deal with real estate investment trusts (REITs) and the treatment of any interest restriction as between the exempt and any residual part of their business (TIOPA 2010 s 452). Since 6 April 2020 UK property...
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:
The government has published draft provisions to be included in Finance Bill 2020/21 together with accompanying explanatory notes other supporting documents and consultations. This analysis brings together the key business tax provisions and explains the changes being made.
The draft legislation for FB 2020/21 includes two further technical amendments to the CIR rules. These are being made to ensure the CIR regime works as intended and have been identified following engagement with affected businesses.
The first proposed amendment concerns the specific provisions in the CIR rules that deal with real estate investment trusts (REITs) and the treatment of any interest restriction as between the exempt and any residual part of their business (TIOPA 2010 s 452). Since 6 April 2020 UK property...
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: