Capital allowances

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Practice notes
The ‘ad medium filum’ rule is a rebuttable presumption that an owner of land which abuts either:•a public or private highway, or•a non-tidal river or...
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19th May
Precedents
date [date]Parties1[name of Seller] [of OR incorporated in England and Wales with company registration number [number] whose registered office is at]...
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19th May
Precedents
You are applying for registration of [insert details of property] at HM Land Registry and as part of that application you must disclose any overriding...
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19th May
Q&As
Should an indemnity covenant in a transfer deed (TR1) require the transferee to indemnify 'the transferor's estate and effects' as well as the...
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19th May
Practice notes
There are three different ways by which an easement can be implied at common law:•necessity•intended use•the rule in Wheeldon v BurrowsThe implied...
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19th May
Practice notes
What is a disclosure letter?A disclosure letter is a letter from a seller to a buyer containing both general and specific disclosures as well as a...
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19th May
Precedents
1Change of control1.1In this clause the following definitions apply:Authorised Controller[s]•[[name] [of OR incorporated in England and Wales with...
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19th May
Practice notes
Law Society practice notes clarify the Law Society's position on good practice in relation to particular issues and areas of law but are not intended...
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19th May
Practice notes
What is a headline rent?In a falling market, landlords frequently offer tenants financial inducements to take a lease in order to maintain the level...
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19th May
Practice notes
Is the agreement a grazing licence or farm business tenancy?What is a grazing licence?A grazing licence is an agreement under which a landowner allows...
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19th May
Precedents
EXPLANATORY NOTE: IN THIS PRECEDENT, INSERT THE NAME OF THE GUARANTOR WHERE PROMPTED TO DO SO. OTHERWISE, TO KEEP THIS DECLARATION IN LINE WITH THE...
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19th May
Practice notes
An employee who lives in premises owned by their employer in order to perform their duties as an employee and who has exclusive possession of those...
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19th May
Practice notes
In the absence of an express provision in the lease (which is rare), a landlord has an absolute right to refuse consent to alterations outside the...
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19th May
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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19th May
Q&As
The Conveyancing Quality Scheme (CQS) is a scheme run by the Law Society which accredits members based upon a recognised quality standard in respect...
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Produced in partnership with Chris Bryden of 4 King’s Bench Walk 19th May

Most recent Capital allowances content

Q&As
Can a buyer and seller make a section 198 election on the sale of a property when the seller has not claimed any capital allowances (it is a pension...
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1st Aug
Q&As
Are expenses incurred during an extensive refurbishment of a property deductible expenses of the subsequent property rental business?In this Q&A we...
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1st Aug
Q&As
How should I adapt your precedent ‘capital allowances clauses—property sale contract’ where the figure to be pooled by the seller and claimed by the...
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1st Aug
Q&As
What are the consequences for the seller of entering into an invalid s 198 election on the sale of property?The purpose of an election under section...
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1st Aug
Practice notes
Section 198 and 199 elections on transactions involving real estateThis Practice Note describes the law and practice relating to elections under...
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Produced in partnership with Martin Wilson 31st Jul
Practice notes
Plant and machinery allowances—integral featuresCertain items of plant and machinery (see Practice Note: Plant and machinery allowances—definition of...
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Produced in partnership with Martin Wilson 31st Jul
Practice notes
Plant and machinery allowances—definition of plant and machineryPlant and machinery allowances are the most widely used form of capital allowance....
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Produced in partnership with Martin Wilson 31st Jul
Practice notes
Plant and machinery allowances—fixturesA taxpayer may be able to obtain tax relief for expenditure on fixtures by claiming plant and machinery...
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Produced in partnership with Martin Wilson 31st Jul
Practice notes
Capital allowances—interaction with CGT, VAT and stamp taxesThis Practice Note sets out how the capital allowances rules interact with the rules...
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Produced in partnership with Martin Wilson 31st Jul
Practice notes
Capital allowances on property sales—pre-contract enquiriesThis Practice Note is about capital allowance-related pre-contract enquiries on a property...
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Produced in partnership with Martin Wilson 31st Jul
Practice notes
Plant and machinery allowances—types and ratesCapital allowances are the means by which a taxpayer can obtain a deduction when calculating taxable...
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Produced in partnership with Martin Wilson 30th Jul
Practice notes
Structures and buildings allowancesFORTHCOMING CHANGE: Finance Bill 2021–22 will amend the requirements for SBA allowance statements, to include the...
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Produced in partnership with Martin Wilson 30th Jul
Precedents
Capital allowances clause—agreement for lease with a landlord’s contribution1Capital allowances1.1In this clause 1:CAA 2001•means Capital Allowances...
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Produced in partnership with Martin Wilson 30th Jul
Precedents
Election—capital allowances apportionment on grant of lease—CAA 2001, s 199[Date][Grantor's name and Unique Taxpayer Reference (UTR)][Grantee's name...
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Produced in partnership with Martin Wilson 30th Jul
Precedents
Election—capital allowances apportionment on sale of land—CAA 2001, s 198[Date][Transferor's name and Unique Taxpayer Reference (UTR)][Transferee's...
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Produced in partnership with Martin Wilson 30th Jul
Precedents
Capital allowances clauses—property sale contract1Capital allowances—for use where the Seller has claimed plant and machinery allowances and the...
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Produced in partnership with Martin Wilson 30th Jul

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