Tax Insider Tip: Reform Of Landlords’ Taxation: Where Are We Now?
Although proposals to allow landlords to use the cash basis for calculating taxable profits were confirmed in the 2017 Spring Budget on 8 March 2017, and the legislation to do so was included in the subsequent Finance Bill, it did not appear in the much-reduced Finance Act 2017, which received Royal Assent on 27 April 2017. The changes, which were to have taken effect from 6 April 2017, were eventually included in Finance Bill (No 2) published on 8 September 2017, but as the legislation has yet to receive Royal Assent, we appear to be in a period of uncertainty in this particular area of taxation.
In October's issue of 'Tax Insider’, Sarah Laing looks at proposals to reform the tax system for landlords.
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