CAPITAL ALLOWANCES - 16.09.2024
Business incorporation - optimise relief for capital expenses
Your business has grown significantly and so you’ve decided to transfer it to a limited company. This will trigger special rules for recalculating capital allowances that could result in an extra tax cost. What steps can you take to avoid this trap?
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CAPITAL ALLOWANCES - 29.08.2024
Tax deduction for decorative items in the workplace
Our subscriber has spent thousands on a large number of ornamental plants for his firm’s showroom. He’s received conflicting advice on whether the expenditure qualifies for tax relief. What’s the correct position?
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CAPITAL ALLOWANCES - 28.05.2024
New enhanced guidance to prevent errors
More guidance. According to HMRC, businesses are making too many errors when claiming tax deductions (capital allowances) for the cost of equipment (plant and machinery). It’s therefore published new guidelines to its existing advice (see The next step ). ...
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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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