CIOT consultation response: Review of the corporate intangible fixed assets regime

Released 11 May 2018

CIOT supports reform of corporate intangible fixed assets regime.

The Chartered Institute of Taxation (CIOT) has published its comments submitted to HMRC in response to the Review of the corporate Intangible Fixed Assets regime consultation document published in February 2018. The CIOT commented that it would welcome changes to remove the current distinction between pre-2002 intangible assets and those arising after the date; to remove the Finance (No2) Act 2015 restriction denying relief for ‘relevant assets’ which included goodwill and certain other assets; to amend the de-grouping charge in the intangible fixed assets (IFA) regime to mirror the capital gains de-grouping rules, so far as possible, such that the Substantial Shareholdings Exemption (SSE) becomes available to exempt de-grouping gains; and considers an increase in the elective 4% fixed rate of relief would increase the attractiveness of the UK to some businesses.

View the submission Review of the corporate intangible fixed assets regime - CIOT comments.

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