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Tax watch: 28 June 2024

Consultations update

  • Alternative finance: views were sought on proposals to address the difference in CGT treatment when property is refinanced using alternative rather than conventional finance methods and on the extent to which capital allowances issues arise when using alternative financing (closed 9 April).
  • Capital allowances simplification: the government held working group meetings to assess whether broader changes could be made to simplify the existing capital allowances legislation with a view to producing any draft legislation in the summer.
  • Carbon Border Adjustment Mechanism (CBAM): consultation on proposals for the UK CBAM effective from 1 January 2027 (closed 13 June).
  • Cryptoassets and CARF: consultation on UK implementation of OECD Cryptoasset Reporting Framework (CARF) including amendments to the CRS seeking views on extension to domestic reporting (closed 29 May).
  • DAC: The EC invites feedback on the effectiveness and relevance of the DAC 2 to DAC 6 (closes 30...

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