Calculation of profits of property businesses - CIOT comments

By Technical Team on 01 Mar 2017

We have sent our comments to HMRC on the draft Finance Bill clauses published on 31 January.

In our response, we say that we are not convinced that the policy objective of simplification will necessarily be fulfilled in all cases.

It is inevitable that providing a choice of accounting bases will bring with it complexity, as will the contrast in the default position for the trading cash basis.

Technical Team