TaxPersonal Tax27 MARCH 2000 FURTHER EXTENSION OF TAX RELIEF ON TELECOMMUNICATIONS LICENSES AND RIUs

27 MARCH 2000 FURTHER EXTENSION OF TAX RELIEF ON TELECOMMUNICATIONS LICENSES AND RIUs

Responding to representations received since the Budget an extension of the tax relief for mobile phone spectrum licences and the cost of acquiring capacity on telecommunications cables, Indefeasible Rights of Use (IRUs), has been decided.

Responding to representations received since the Budget an extension of the tax relief for mobile phone spectrum licences and the cost of acquiring capacity on telecommunications cables, Indefeasible Rights of Use (IRUs), has been decided.

The Inland Revenue Budget Note REVBN2E announced that the relief would be available for the cost of buying capacity in submarine telecommunications cables on or after 21 March 2000, and for the third generation mobile telecommunication spectrum licences.

The relief will now extend to all IRUs in telecommunications cable systems which are acquired from third parties on or after 21 March 2000, and to all licences auctioned in accordance with Section 3 of the Wireless Telegraphy Act 1998.

The relief will be spread over the life of the acquisition and will be legislated for in this year’s Finance Bill.

NOTES FOR EDITORS

The details of the tax relief are the same as in REVBN2E. It simply applies to a wider category of IRUs and telecommunications licences.

Related Articles

LITRG urges government to consider tax changes in disability work plan

Administration LITRG urges government to consider tax changes in disability work plan

4d Lucy Skoulding, Reporter
HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

3w Emma Smith, Managing Editor
HMRC urged to clarify impact of income allowances on Self-Assessments

Personal Tax HMRC urged to clarify impact of income allowances on Self-Assessments

2m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

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

2m Emma Rawson, ATT Technical Officer
Wealthy individuals could circumvent top tax rate rises

Personal Tax Wealthy individuals could circumvent top tax rate rises

4m Alia Shoaib, Reporter
Italy grants first successful non-dom status application to former UK non-dom

Personal Tax Italy grants first successful non-dom status application to former UK non-dom

5m Emma Smith, Managing Editor
Industry reaction: Taylor Review does not go far enough in addressing tax issues

Legal Industry reaction: Taylor Review does not go far enough in addressing tax issues

5m Alia Shoaib, Reporter
Does the Taylor Review sufficiently address the gig economy?

Corporate Tax Does the Taylor Review sufficiently address the gig economy?

5m Alia Shoaib, Reporter