RICS has responded to a HMRC consultation on the technical note of the Lease Plant and Machinery on anti-avoidance.

Although the technical note is not a formal Government consultation document, RICS is concerned as to the potential effect of some of the proposals, as drafted, on the UK property industry.

The proposed anti-avoidance provisions are targeted at equipment leases, RICS is concerned that the Technical Note is sufficiently widely drafted that it could unintentionally catch a number of common, commercial, leasing transactions of real property that are not specifically excluded in the draft legislation.

Download the RICS submission in full from the Word Downloads panel on the right hand side of this page.

For more information contact: Nadia Nath-Varma (nnathvarma@rics.org).