On 21 September 2017, the Office for Tax Simplification (OTS) published details as to the scope of its review of the UK capital allowances system. The key question being considered by the OTS is whether the capital allowances system should be replaced by accounting depreciation for the purposes of giving tax relief on investment in tangible assets.

The OTS report is due to be published in Spring 2018.

The scoping document can be viewed here.