Commonhold: Proposals for Regulations
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Comments of the CIOT on the consultation paper of 7 October 2002, sent to the Inland Revenue on 7 November 2002. Thank you for sending us a copy of the Consultation Paper dated 7 October 2002.
We have no comments on the land law aspects. However, we think that it will be important, if only for the avoidance of doubt, for both the Inland Revenue and Customs & Excise to issue guidance notes setting out how the tax law will be applied to commonhold associations and commonhold units. We shall be pleased to consider, and comment on, any draft notes that may be produced.
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