Scrap disincorporation relief cap, urges ATT

This item was filled under Tax

The asset cap on the proposed disincorporation relief should be scrapped, the Association of Taxation Technicians (ATT) has told HMRC.

The effectiveness of the new measure – created to enable businesses to change their legal form from a limited company to self-employed without suffering a tax disadvantage – will be compromised by blocking firms with assets worth more than £100,000, claims the organisation in official response to draft provisions set out in the Finance Bill.

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