Capital allowances

View Tax by content type:

Featured Tax content

Practice notes
FORTHCOMING CHANGE relating to SDLT for non-residents buying residential property: As announced at Budget 2018, confirmed at Spring Budget 2020 and...
Read More >
23rd Oct
Practice notes
Once is has been determined that there is a notifiable transaction for SDLT purposes, it should be considered whether any reliefs or exemptions are...
Read More >
21st Oct
Practice notes
The sale of a 'business' is really a sale of assets bundled together. VAT would therefore be charged on the transfer of each asset in accordance with...
Read More >
Produced in partnership with Cathya Djanogly 8th Oct
Practice notes
Provisions in the Finance (No 2) Act 2017 (F(No 2)A 2017) made considerable reforms to the rules governing what companies can do with carried-forward...
Read More >
26th Sep
Practice notes
FORTHCOMING CHANGE: HMRC is consulting on changes to the hybrid mismatch rules to ensure that they work proportionately and as intended. Amendments...
Read More >
26th Sep
Practice notes
This Practice Note considers the steps to take in relation to SDLT once it is established there is a chargeable transaction. For details about the...
Read More >
26th Sep
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...
Read More >
Produced in partnership with Anne Fairpo of Temple Tax Chambers 26th Sep
Practice notes
FORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares framework: The government is asking for views on the principles and design...
Read More >
26th Sep
Practice notes
This Practice Note is about the issues that arise on a transfer of a going concern involving land and buildings.A transfer of a going concern (TOGC)...
Read More >
26th Sep
Practice notes
The substantial shareholdings exemption (SSE) is an exemption from corporation tax on chargeable gains for certain share disposals by companies. The...
Read More >
26th Sep
Practice notes
BackgroundOn 6 July 2018, the government published draft legislation to be included in Finance Bill 2019 (formally the Finance (No 3) Bill 2017–19,...
Read More >
26th Sep
Practice notes
Stamp duty land tax (SDLT) is charged on chargeable land transactions. Consequently, the concept of a land transaction and what this encompasses is...
Read More >
25th Sep
Practice notes
FORTHCOMING CHANGE: Finance Bill 2020–2021 will contain two technical amendments to the CIR rules to ensure the regime works as intended. The first is...
Read More >
25th Sep
Practice notes
If an exemption from stamp duty applies, a document (ie an instrument of transfer) which would otherwise be subject to UK stamp duty is exempt from...
Read More >
25th Sep
Practice notes
Unless an exemption or relief applies, payments of:•yearly interest (or amounts that are treated by tax legislation as payments of yearly interest),...
Read More >
25th Sep
Practice notes
The amount of stamp duty land tax (SDLT) payable on a chargeable transaction is determined by reference to the 'chargeable consideration' for the...
Read More >
25th Sep

Most recent Capital allowances content

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...
Read More >
25th Sep
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...
Read More >
25th Sep
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...
Read More >
25th Sep
Practice notes
What is an enhanced capital allowance?An enhanced capital allowance (ECA) is a tax relief for businesses on their investments in certain categories of...
Read More >
Produced in partnership with Begonia Filgueira FIEMA of Acuity Legal 25th Sep
Practice notes
Certain items of plant and machinery (see Practice Note: Plant and machinery allowances—definition of plant and machinery) are classified as ‘integral...
Read More >
25th Sep
Practice notes
For both plant and machinery allowances and structures and buildings allowances (SBAs), anti-avoidance rules exist to prevent persons from obtaining a...
Read More >
25th Sep
Practice notes
Capital allowances for plant and machinery are given only if specifically claimed by completing the relevant boxes on an annual tax return.Allowances...
Read More >
25th Sep
Practice notes
The Capital Allowances Act 2001 contains provisions to ensure that one person cannot obtain capital allowances on expenditure which is actually borne...
Read More >
25th Sep
Practice notes
Capital allowances for plant and machinery are given only if specifically claimed by completing the relevant boxes on an annual tax return.Allowances...
Read More >
25th Sep
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...
Read More >
25th Sep
Practice notes
Where a transfer of assets (as opposed to a transfer of shares) results in the transfer of a trade or other qualifying activity, the capital...
Read More >
25th Sep
Practice notes
Provisions exist to ensure, generally, that assets may not be transferred between connected persons in such a way as to accelerate capital allowances...
Read More >
25th Sep
Practice notes
Research and development (R&D) capital allowances are available to all taxpayers carrying on a trade, not just companies. Therefore, an individual, or...
Read More >
25th Sep
Practice notes
What are capital allowances?Capital allowances are the means by which tax relief is given for some (but not all) capital expenditure. They are...
Read More >
26th Sep
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...
Read More >
26th Sep
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...
Read More >
26th Sep
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...
Read More >
26th Sep
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...
Read More >
26th Sep
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...
Read More >
26th Sep
Practice notes
Expenditure incurred on or after 29 October 2018 on non-residential structures and buildings which does not qualify for plant and machinery allowances...
Read More >
26th Sep

Popular documents