Steven Bone#11799

Steven Bone

Director, Gateley Legal
Steven is a tax-qualified chartered surveyor. He has specialised in capital allowances for more than 25 years, and more recently land remediation relief and R&D tax incentives. 

In his role as director at Gateley Capitus, Steven works with businesses that are buying, building or refurbishing commercial property, cleaning-up contaminated land and buildings or undertaking R&D activity to help them pay the right amount of tax by optimising the tax reliefs available to them.

Prior to joining Gateley Capitus, Steven held senior roles in the Big 4, specialist boutique and national mid-tier accountancy firms. He is a fellow of the Royal Institution of Chartered Surveyors (RICS) and the Association of Taxation Technicians.

Alongside daily practice, Steven is a tax incentives writer and speaker for property investment and innovation activity. 

Contributed to

14

Capital allowances and connected persons
Capital allowances and connected persons
Practice Notes

This Practice Note is about the rules on capital allowances for taxpayers who are connected with one another. It sets out the meaning of connected, the capital allowances treatment of transfers of assets between connected persons, and the special rules affecting integral features, structures and buildings. This Practice Note was produced in partnership with Steven Bone.

Capital allowances on property sales—pre-contract enquiries
Capital allowances on property sales—pre-contract enquiries
Practice Notes

This Practice Note contains guidance on the practicalities of capital allowance related pre-contract enquiries on a property sale or acquisition. It provides assistance in understanding replies to pre-contract enquiries (CPSE.1) on this topic, and in knowing when to insist on further information. This Practice Note was produced in partnership with Steven Bone and Martin Wilson.

How plant and machinery allowances are claimed—corporation tax
How plant and machinery allowances are claimed—corporation tax
Practice Notes

This Practice Note explains how capital allowances for plant and machinery are calculated for corporation tax purposes. It covers qualifying expenditure, pooling and writing-down allowances, the mechanics of claiming, or disclaiming, allowances, and the uses to which allowances may be put. It describes balancing charges and allowances, disposal events and disposal values, and time limits for making and amending claims. This Practice Note was produced in partnership with Steven Bone.

Land remediation relief
Land remediation relief
Practice Notes

This Practice Note outlines the land remediation relief scheme for qualifying expenditure on the remediation of contaminated or derelict land, including the main conditions for relief, its application to Japanese knotweed, exclusions and penalties. It was produced in partnership with Begonia Filgueira FIEMA of Squire Patton Boggs and updated by Steven Bone of Gateley Capitus.

Plant and machinery allowances—fixtures
Plant and machinery allowances—fixtures
Practice Notes

This Practice Note explains the capital allowances rules for plant or machinery that is classified as a fixture, such as lifts, central heating equipment and boilers. It covers the meaning of a fixture, the special rules on who can claim allowances on fixtures, and how allowances on fixtures are calculated. This Practice Note was produced in partnership with Steven Bone and Martin Wilson.

Plant and machinery allowances—integral features
Plant and machinery allowances—integral features
Practice Notes

This Practice Note explains the capital allowances rules for plant or machinery that is classified as an integral feature, such as electrical, cold water and heating systems. It covers the meaning of an integral feature, the tax treatment of repairs to integral features, and relevant anti avoidance rules. This Practice Note was produced in partnership with Steven Bone.

Plant and machinery allowances—types and rates
Plant and machinery allowances—types and rates
Practice Notes

This Practice Note describes the types of expenditure that will qualify for capital allowances on plant and machinery, and the different rates at which relief is given. It provides guidance on the super-deduction, full expensing, the annual investment allowance, enhanced capital allowances, short-life assets, conventional plant and machinery allowances, integral features and long-life assets. This Practice Note was produced in partnership with Steven Bone.

Section 198 and 199 elections on transactions involving real estate
Section 198 and 199 elections on transactions involving real estate
Practice Notes

This Practice Note is about elections under section 198 or 199 CAA 2001, which are relevant to capital allowances claims on fixtures that change hands as part of a real estate transaction (a property sale or the grant of a new lease). It provides guidance on the legal requirements for making an election, and lists common pitfalls that may make an election invalid. This Practice Note was produced in partnership with Steven Bone.

Structures and buildings allowances
Structures and buildings allowances
Practice Notes

This Practice Note is about the capital allowances for expenditure on non-residential structures and buildings. This Practice Note was produced in partnership with Steven Bone.

What are capital allowances and capital expenditure?
What are capital allowances and capital expenditure?
Practice Notes

This Practice Note provides a brief explanation of the tax rules on capital allowances, then more detail on what is meant by capital expenditure in this context. It covers the enduring benefit test, replacement assets, like-for-like expenditure, nearest modern equivalent, the Law Shipping principle and the special rules for integral features. This Practice Note was produced in partnership with Steven Bone.

Capital allowances clause—agreement for lease with a landlord’s contribution
Capital allowances clause—agreement for lease with a landlord’s contribution
Precedents

This Precedent clause is for an agreement for lease where a landlord is making a capital contribution to the tenant (for instance a contribution towards the tenant’s fitting-out works) and wishes to claim capital allowances in respect of some or all of the contribution. This Precedent was produced in partnership with Steven Bone.

Capital allowances clauses—property sale contract
Capital allowances clauses—property sale contract
Precedents

These precedent capital allowances clauses are for inclusion in a property sale contract. The clauses can be adapted where the transaction is the grant of a lease for a premium, or an asset purchase agreement in which real estate is being transferred as part of a wider sale of a business. This Precedent was produced in partnership with Steven Bone and Martin Wilson.

Election—capital allowances apportionment on grant of lease—CAA 2001, s 199
Election—capital allowances apportionment on grant of lease—CAA 2001, s 199
Precedents

This Precedent section 199 CAA 2001 election is for use by a landlord and tenant of a new lease who wish to enter into an election to fix the amount of expenditure allocated to fixtures for capital allowances purposes. This Precedent was produced in partnership with Steven Bone.

Election—capital allowances apportionment on sale of land—CAA 2001, s 198
Election—capital allowances apportionment on sale of land—CAA 2001, s 198
Precedents

This Precedent section 198 Capital Allowances Act 2001 (CAA 2001) election is for use by the buyer and seller of an existing interest in real estate who wish to enter into an election to fix the amount of the sale price allocated to fixtures for capital allowances purposes. This Precedent was produced in partnership with Steven Bone.

Practice Area

Panel

  • Contributing Author

Qualified Year

  • 1995

Experience

  • Azets (2004 - 2019)
  • Deloitte (2002 - 2004)
  • Arthur Andersen (1997 - 2002)

Membership

  • Fellow of the Royal Institution of Chartered Surveyors, FRICS
  • Fellow of the Association of Taxation Technicians, ATT (Fellow)

Qualifications

  • Business Administration (PGDip) (2010-2010)
  • Quantity Surveying BSc (Hons) (1989-1993)

Education

  • University of Warwick – Warwick Business School (2010-2010)
  • Liverpool John Moores University (1989-1993)

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