Anti-avoidance plan conflicts with leasing rules

Anti-avoidance plan conflicts with leasing rules

Finance and Leasing Association says plan to clamp down on loans exchanged for future revenues conflicts with long-standing leasing tax proposals

Anti-avoidance
proposals on structured finance arrangements, introduced last week
, conflict
with the government’s plan for the taxation of leasing, the Finance and Leasing
Association (FLA) has said.

In a letter to the FT, Martin Hall, director general of the FLA said
the plans ‘interact with the leasing proposals in so many possible ways that
only an exemption for leasing is safe, if contradictory provisions are to be
avoided.’

The government has been consulting on the leasing proposals for thee years,
he said, contrasting that with the relative rush and lack of discussion over the
tax avoidance proposals.

The plan announced last week is intended to prevent companies selling future
income streams in exchange for loans to create tax advantages.

Related Articles

Watch out when winding up

Corporate Tax Watch out when winding up

3m Emma Rawson, ATT Technical Officer
How might Brexit affect UK tax policy?

Brexit & Economy How might Brexit affect UK tax policy?

3m Santhie Goundar
Corporation tax losses – your newly flexible friends

Corporate Tax Corporation tax losses – your newly flexible friends

5m Emma Rawson, ATT Technical Officer
HMRC large business tax enquiry duration rises to 3 years

Corporate Tax HMRC large business tax enquiry duration rises to 3 years

6m Emma Smith, Managing Editor
SMEs paying higher rate of corporation tax than big businesses

Corporate Tax SMEs paying higher rate of corporation tax than big businesses

6m Alia Shoaib, Reporter
Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

9m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

9m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

10m Alia Shoaib, Reporter