Capital allowances

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The regime for property authorised investment funds (PAIFs, or as HMRC use in regulations and their published guidance, Property AIFs)) was introduced...
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Produced in partnership with Martin Shah of Simmons & Simmons LLP based on material originally written by Charles Goddard of Rosetta Tax LLP 12th Jan
Practice notes
The Enterprise Investment Scheme (EIS) is designed to encourage investment in smaller, higher-risk trading companies by offering a range of tax...
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9th Nov
Practice notes
Overdrafts, term loans and revolving credit facilitiesThree common types of loan facility are:•overdrafts•term loans, and•revolving credit facilities...
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9th Nov
Practice notes
Where a dispute is brought to an end by a payment of damages or compensation, whether under a court order or an out-of-court settlement agreement:•the...
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9th Nov
Practice notes
This Practice Note explains:•what a determination in respect of direct tax (ie a direct tax determination) is•when HMRC might issue a direct tax...
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Produced in partnership with Philip Rutherford 12th Jan
Practice notes
This Practice Note is about the meaning of a scheme of reconstruction for tax purposes.Tax neutrality is maintained where a company (company A) enters...
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9th Nov
Practice notes
Coronavirus (COVID-19): HMRC has stated in its International Manual that if a financial institution cannot meet the FATCA reporting deadline of 31 May...
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Produced in partnership with Ali Kazimi and Chris Orchard of Hansuke Consulting Limited 12th Jan
Practice notes
It is standard market practice for loan agreements (also known as facility agreements), whether bilateral or syndicated, to:•prohibit a borrower from...
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Produced in partnership with Eloise Walker of Pinsent Masons 12th Jan
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 12th Jan
Practice notes
The reasons why a company might carry out a demerger, and the different ways in which a demerger may be structured, are described in Practice Notes:...
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Produced in partnership with Zoe Feller of Bird & Bird 12th Jan
Practice notes
It is market practice for a tax covenant, also known as a tax deed, to form part of the transaction documents in respect of a sale of all the shares...
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9th Nov
Practice notes
Brexit: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...
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Produced in partnership with Martin Shah and Gary Barnett of Simmons & Simmons LLP 12th Jan
Practice notes
Unilateral relief, like double tax relief, aims to relieve double taxation. Subject to certain conditions being satisfied and specific limits,...
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9th Nov
Practice notes
FORTHCOMING CHANGE: HMRC is consulting (13 July to 10 August 2020) on draft regulations to provide a deduction from a UK entity’s equity and...
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Produced in partnership with Charlotte Sallabank of Katten Muchin Rosenman UK LLP 12th Jan
Practice notes
FORTHCOMING CHANGE relating to property rich collective investment vehicles and certain investors: HMRC is consulting until 16 December 2020 on draft...
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9th Nov
Practice notes
Part 8 of the Corporation Tax Act 2009 (CTA 2009) is a specific corporation tax regime that applies exclusively to the gains and losses of intangible...
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Produced in partnership with Anne Fairpo of Temple Tax Chambers 12th Jan

Most recent Capital allowances content

Practice notes
What are capital allowances and capital expenditure?What are capital allowances?Capital allowances are the means by which tax relief is given for some...
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Produced in partnership with Martin Wilson 15th May
Practice notes
Capital allowances and connected personsProvisions exist to ensure, generally, that assets may not be transferred between connected persons in such a...
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Produced in partnership with Martin Wilson 15th May
Practice notes
Know-how allowancesCapital allowances are available for qualifying capital expenditure on know-how where the acquirer is not within the corporate...
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Produced in partnership with Anne Fairpo of Temple Tax Chambers 15th May
Practice notes
Structures and buildings allowancesFORTHCOMING CHANGE: The government intends to legislate to amend the requirements for SBA allowance statements, to...
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Produced in partnership with Martin Wilson 15th May
Practice notes
How plant and machinery allowances are claimed—income taxCapital allowances for plant and machinery are given only if specifically claimed by...
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Produced in partnership with Martin Wilson 15th May
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 15th May
Practice notes
How plant and machinery allowances are claimed—corporation taxFORTHCOMING CHANGE: Finance Bill 2021 introduces new rules, that will apply...
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Produced in partnership with Martin Wilson 15th May
Practice notes
Contributions in respect of expenditure on plant and machineryThe Capital Allowances Act 2001 contains provisions to ensure that one person cannot...
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Produced in partnership with Martin Wilson 15th May
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 15th May
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 15th May
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 15th May
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 15th May
Practice notes
Patent allowancesCapital allowances are available and provide a deduction for capital expenditure on acquiring two particular types of intangible...
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Produced in partnership with Anne Fairpo of Temple Tax Chambers 15th May
Practice notes
Capital allowances and company reconstructionsWhere a transfer of assets (as opposed to a transfer of shares) results in the transfer of a trade or...
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Produced in partnership with Martin Wilson 15th May
Practice notes
Enhanced capital allowancesWhat is an enhanced capital allowance?An enhanced capital allowance (ECA) is a tax relief for businesses on their...
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15th May
Practice notes
Capital allowances anti-avoidance provisionsFor both plant and machinery allowances and structures and buildings allowances (SBAs), anti-avoidance...
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Produced in partnership with Martin Wilson 15th May
Practice notes
R&D capital allowancesFORTHCOMING CHANGE: At Spring Budget 2021, the government announced a wide-ranging review of research and development (R&D)...
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Produced in partnership with Anne Fairpo of Temple Tax Chambers 15th May
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 15th May
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 15th May
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 5th May

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