Capital allowances

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Practice notes
The third edition of the Standard Commercial Property Conditions was published on 27 April 2017 a...
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9th Nov
Practice notes
A benevolent fund is an institution, including a body of trustees, which holds funds on trust for the purpose of relieving poverty amongst a defined...
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9th Nov
Practice notes
What is a Quistclose trust?A Quistclose trust is an example of an ‘automatic’ resulting trust, ie a trust which arises where property is transferred...
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9th Nov
Precedents
[To be printed on Landlord’s letterheaded paper]Our Ref:Date:To: [insert name of Tenant]From: [insert name of previous Landlord] [of [insert address]...
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9th Nov
Precedents
This Deed is made on [insert date]PARTIES1[insert name of the owner of the Servient Land] [ of [insert address] OR incorporated in England and Wales...
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9th Nov
Practice notes
TrespassTrespass is the unlawful presence of a person on land in the possession of another. The ownership of land includes the airspace above it....
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9th Nov
Practice notes
Sale by a mortgagee destroys the equity of redemption in the mortgaged property. The sale defeats the rights of all subsequent incumbrancers, whose...
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9th Nov
Precedents
An adaptable Word version of this Precedent can be saved, downloaded or printed from this link:Completion statement—saleThis Precedent is a template...
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9th Nov
Practice notes
How should the money be transmitted?Most contracts relating to commercial property incorporate either the second or third editions of the Standard...
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9th Nov
Practice notes
The Third EditionThe third edition of the Standard Commercial Property Conditions was published on 27 April 2017. It is an update to Standard...
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9th Nov
Practice notes
A good marketable title is shown where a seller is able to deduce a good title to the property he has contracted to sell. The seller is not required...
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9th Nov
Precedents
This Deed is made on [date]Parties1[name of person releasing the covenants] [of [insert address] OR incorporated in England and Wales with company...
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9th Nov
Practice notes
Coronavirus (COVID-19): This Practice Note contains guidance on subjects potentially impacted by the government’s response to the COVID-19 outbreak....
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9th Nov
Practice notes
Joint insuranceJoint insurance arises where two or more people insure separate insurable interests in the same property with the same insurer under a...
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9th Nov
Practice notes
Brexit: The UK left the EU on 31 January 2020. This has implications for the schemes providing for agricultural subsidies in England and Wales, which...
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9th Nov

Most recent Capital allowances content

Practice notes
Capital allowances are the means by which a taxpayer can obtain a deduction when calculating taxable profits for some, but not all, forms of capital...
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Produced in partnership with Martin Wilson 12th Apr
Practice notes
A taxpayer may be able to obtain tax relief for expenditure on fixtures by claiming plant and machinery allowances. For more on the availability of...
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Produced in partnership with Martin Wilson 9th Apr
Practice notes
This Practice Note describes the law and practice relating to elections under section 198 or 199 of the Capital Allowances Act 2001 (CAA 2001), which...
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Produced in partnership with Martin Wilson 9th Apr
Practice notes
Certain items of plant and machinery (see Practice Note: Plant and machinery allowances—definition of plant and machinery) are classified as ‘integral...
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Produced in partnership with Martin Wilson 9th Apr
Practice notes
This Practice Note sets out how the capital allowances rules interact with the rules relating to:•capital gains tax, including corporation tax on...
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Produced in partnership with Martin Wilson 9th Apr
Practice notes
This Practice Note is about capital allowance-related pre-contract enquiries on a property transfer. It applies to the grant of a new property...
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Produced in partnership with Martin Wilson 9th Apr
Practice notes
FORTHCOMING CHANGE: The government intends to legislate to amend the requirements for SBA allowance statements, to include the date qualifying...
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Produced in partnership with Martin Wilson 25th Mar
Practice notes
Plant and machinery allowances are the most widely used form of capital allowance. Plant and machinery is often (wrongly) interpreted as if the terms...
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Produced in partnership with Martin Wilson 22nd Mar
Q&As
In this Q&A we assume that the owner of the property is a non-UK resident individual and is not calculating trade profits on the cash basis.For...
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15th Feb
Q&As
The purpose of an election under section 198 of the Capital Allowances Act 2001 is to allow the buyer and seller of a property to elect jointly to...
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15th Feb
Precedents
1Capital allowances—for use where the Seller has claimed plant and machinery allowances and the parties will enter into a s 198/s 199 election on...
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Produced in partnership with Martin Wilson 14th Feb
Precedents
1Capital allowances1.1In this clause 1:CAA 2001•means Capital Allowances Act 2001Fixtures•means those items forming part of the Tenant’s Works which...
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Produced in partnership with Martin Wilson 14th Feb
Precedents
[Date][Transferor's name and Unique Taxpayer Reference (UTR)][Transferee's name and UTR]Election to apportion the price of fixtures under section 198...
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Produced in partnership with Martin Wilson 8th Jan
Precedents
[Date][Grantor's name and Unique Taxpayer Reference (UTR)][Grantee's name and UTR]Election to apportion the price of fixtures under section 199 of the...
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Produced in partnership with Martin Wilson 8th Jan
Q&As
The ‘pooling requirement’ applies to buyers of second-hand fixtures where the seller (or the most recent previous owner that owned the fixtures for a...
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29th Nov
Q&As
The purpose of an election under section 198 of the Capital Allowances Act 2001 (CAA 2001) is to allow the buyer and seller of a property to elect...
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29th Nov

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