The Institute of Chartered Accountants has slammed the government's plan to provide tax incentives for the conversion of inner city business premises into residential flats.
The legislation has been described as being 'as flawed as IR35'. ICAEW's Tax Faculty has scored it alongside IR35, which it scored as a three out of ten, with the legislation getting 31 out of 90, just over three out of ten!
The legislation was rushed through parliament and only had to endure 25 minutes of scrutiny before being passed.