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As I am sure you may have heard, the introduction of the restrictions on the use of all property-based tax incentives by investors (such as Section 23 Relief, Rural Renewal Relief etc) is now being deferred until after an “Impact Assessment” is published.

It is believed that these provisions will not come into effect until the tax year after the year in which the Impact Assessment is eventually published. Hence the earliest tax year that they can apply to will be 2012 (and with a bit of luck it might be delayed even longer than this). It is hoped that the results of the Impact Assessment may lead to some relaxation of these very penal proposals.