Tax - Capital allowances

Recently added Tips & Advice

LAND AND PROPERTY - 21.05.2024

Capital allowances for commercial property

Your client (a company) is about to purchase a factory and then extend the building afterwards. What capital allowances will be available, and how will claiming them impact the future capital gains position of the property?
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CAPITAL ALLOWANCES - 03.04.2024

Employers or employees - who gets tax relief for equipment?

Your company is kitting out its directors with new computers for their home offices. As inevitably there’ll be some private use of the equipment, how might this affect the tax position of the company and the director?
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BUDGET - 18.03.2024

Good Budget for business?

While most of the headline Budget announcements affect individual taxpayers, lurking in the small print are a few changes for businesses. Will they impact you?
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CAPITAL ALLOWANCES - 20.02.2024

Can your CAs claim include VAT paid?

One of our subscribers is being threatened with extra tax and penalties for claiming capital allowances (CAs) for the VAT he paid on the purchase of equipment. Is HMRC right to say the qualifying cost must be exclusive of VAT?
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CAPITAL ALLOWANCES - 06.02.2024

Capital allowances for new business - get it right!

You’re making a business plan for a new business. Naturally, tax is an important factor, especially the timing of capital allowances (CAs) for the purchase of equipment. What equipment qualifies for CAs and how much can you claim?
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TAX CASES - 23.01.2024

Are camping pods “buildings”?

Case. The company, Acorn Venture Ltd (AV), purchased 26 camping pods to provide accommodation for school children and teachers on residential trips. The cost of the pods was approximately £272,000. AV claimed capital allowances under the annual investment allowance (AIA) on its tax return. The overall position was a loss. However, upon enquiry HMRC disallowed the claim on the basis that the pods were buildings or fixed structures. ...
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Tax - Capital allowances

Most read Tips & Advice

BUDGET - 18.03.2024

Good Budget for business?

While most of the headline Budget announcements affect individual taxpayers, lurking in the small print are a few changes for businesses. Will they impact you?
Read more

CAPITAL ALLOWANCES - 03.04.2024

Employers or employees - who gets tax relief for equipment?

Your company is kitting out its directors with new computers for their home offices. As inevitably there’ll be some private use of the equipment, how might this affect the tax position of the company and the director?
Read more

LAND AND PROPERTY - 21.05.2024

Capital allowances for commercial property

Your client (a company) is about to purchase a factory and then extend the building afterwards. What capital allowances will be available, and how will claiming them impact the future capital gains position of the property?
Read more

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