- Exploring the OTS capital allowances and accounts depreciation review
- Original news
- What is the background to this latest review by the OTS?
- What are the arguments for and against replacing capital allowances with accounts depreciation?
- If the OTS recommends the move to depreciation, what are likely to be the government’s main concerns when deciding whether to go ahead?
- If the new rules are adopted, what challenges might arise during the transitional period?
- When will the OTS publish the outcome of its review, and what would be the earliest date for any new legislation?
Tax analysis: John Lovell, managing director at capital allowances specialists Lovell Consulting, outlines the recent review by the Office of Tax Simplification (OTS) regarding replacing capital allowances with accounts depreciation. He explains that while there are arguments for and against, it’s unclear whether any definitive action will be taken at this stage—indeed, a period of consolidation in tax may be more actively beneficial.
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