Partner Article

Government tax review ends today

The government’s tax relief consolidation period is set to end today, and experts at Deloitte are calling for business to make themselves aware of how this could affect them.

In March the Chancellor expressed plans to abolish 43 tax reliefs after a review of the system by the Office of Tax Simplification. Reliefs under review include capital allowances, stamp duty, stamp duty land tax and remediation relief.

The government gave businesses the chance to comment on these proposed changes to ensure that all potential impacts of the abolitions are registered. While several of the taxes up for consideration are very rarely used, Stephen `hall, tax partner at Deloitte welcomes the moves to simplify the red tape surrounding business legislation.

He commented: “While many companies will not feel the effects of the changes, this is not the case throughout and that is why I would advise any business in the North East currently benefiting from tax releifs to make sure that they are aware of the abolition proposals.

“In total there are more than 1000 tax reliefs available to businesses and companies should ensure that they are fully aware of what they can claim.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .