On 3 October 2017, the UK Office of Tax Simplification (OTS) issued a paper for consultation as part of its review of capital allowances and depreciation, which is being conducted as a result of its report on simplifying the computation of corporation tax ({News-2017-08-31/P/3-previous coverage}). The project relates to tangible fixed assets only and will focus on whether the use of accounts depreciation to provide relief for capital expenditure instead of capital allowances would simplify th…