Making Tax Digital - Treasury Select Committee report

[PinkDalek]

An interesting report and well worth a read:

https://www.parliament.uk/business/comm ... hed-16-17/

[PinkDalek]

An interesting report and well worth a read:

https://www.parliament.uk/business/comm ... hed-16-17/

Summary of consultation responses https://www.gov.uk/government/publicati ... -responses

I've yet to study it all but this may be interesting https://www.gov.uk/government/consultat ... businesses especially for unincorporated (businesses and) landlords:

"The measures being taken forward are increasing the entry threshold for the cash basis to £150,000 and simplifying the rules on capital and revenue expenditure within the cash basis to make it easier for businesses to work out whether expenditure is deductible" which leads here https://www.gov.uk/government/publicati ... businesses

Not sure I can see where the capital/revenue distinction is simplified when considering renovations, although it does include "Under the cash basis, capital allowances, except on the provision of cars, are not available. Instead, landlords will be able to claim the upfront cost of capital items used in the business".

Maybe it is here https://www.gov.uk/government/uploads/s ... nesses.pdf but I'm lousy at understanding legislation.