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Capital Allowances - The Case for the Defence

@ Capital Allowances

A new international accounting standard (IFRS 16) becomes mandatory from January 2019; and the rule changes for leased assets will impact on companies adopting these standards. The potential complications on the tax treatment as a consequence have resulted in some calls for capital allowances to be replaced with a tax relief system based upon the accounting treatment. In this briefing we consider the options put forward by HMRC, the impact on property companies and set out the benefits of retaining the current capital allowances system. Read more.

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