As the character, Max Skinner, states in one of my favourite films (A Good Year) “The secret to riches is the same as the secret to comedy – timing”. This is also true of the availability of the capital allowances ‘Annual Investment Allowance’ for accounting periods straddling 1 January 2016.
It has been well documented that George Osbourne has recently announced some significant changes to the taxation of landlords. In this blog I provide further information on the changes and explain they might impact on landlords.
Whilst 9 December 2015 represented the date that reams of new draft legislation were published relating to new tax legislation, a fundamental proposed change that slipped under the radar for many on this day was the consultation document released by HM Revenue & Customs (HMRC) on proposed changes to the taxation of company distributions.