Changes to the LAQC Scheme

The Government has wound up the existing LAQC scheme and Loss Attributing Qualifying Companies need to decide which option to take from a range of possibilities.  The options are very different in terms of their effect and there is no one-size-fits-all approach to making the choice.

Each Company will need to be reviewed on its own facts and a recommendation made.  We are dealing with this by reviewing the files of all our LAQC clients and making a recommendation to each company as to the course of action that seems most appropriate to them.  Some of these options have transitional benefits attached to them and some will have potentially significant implementation costs so the choice will be an important one. 

At the same time the Government announced the end of the LAQC scheme they removed the ability to claim depreciation on most buildings from April 1 2011.  This move will make a significant difference to LAQCs who have been claiming depreciation their buildings to date.