Finance Bill 2018 Measures

Oct 22, 2018

If the Budget Measures were modest, the Finance Bill is modest to the point of being reclusive. 

Anyone looking for help or support in the Finance Bill in dealing with Brexit will be disappointed.  In particular improvements to the CGT regime for entrepreneurs which could have aligned our regime with that in the UK did not figure either.  An opportunity to fix last year’s changes to section 135 TCA 1997 which created a tax trap for legitimate MBOs has been missed.  It is quite bizarre that there has been almost no effort to use the tax system as a lever to improve the supply of housing accommodation.  There are no new incentives to develop the property construction or rental markets at a time of crisis in the housing sector.  It is of course legitimate in a Finance Bill to prioritise the secure collection of revenue, but a Finance Bill should also reflect the concerns and challenges of the social and commercial environment.