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 allowances rules for plant...
Provisions exist to ensure, generally, that assets may not be transferred between connected persons in such a way as to accelerate capital allowances by means of the...
For both plant and machinery allowances and structures and buildings allowances (SBAs), anti-avoidance rules exist to prevent persons from obtaining a tax advantage by...
Produced in partnership with Martin Wilson 1 Capital allowances 1.1 In this clause 1: CAA 2001 means Capital Allowances Act 2001 Fixtures means those items forming part...
Produced in partnership with Martin Wilson 1 Capital allowances—for use where the Seller has claimed plant and machinery allowances and the parties will enter into a s...
This Practice Note is about capital allowance-related pre-contract enquiries on a property transfer. It applies to the grant of a new property interest (eg a lease) as...
This Practice Note sets out how the capital allowances rules interact with the rules relating to: • capital gains tax, including corporation tax on chargeable gains (CGT)...
The Capital Allowances Act 2001 contains provisions to ensure that one person cannot obtain capital allowances on expenditure which is actually borne or ‘met’ by another...
Produced in partnership with Martin Wilson [Date] [Grantor's name and Unique Taxpayer Reference (UTR)] [Grantee's name and UTR] Election to apportion the price of...
Produced in partnership with Martin Wilson [Date] [Transferor's name and Unique Taxpayer Reference (UTR)] [Transferee's name and UTR] Election to apportion the price of...
Brexit impact 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 entered an...
Capital allowances for plant and machinery are given only if specifically claimed by completing the relevant boxes on an annual tax return. Allowances are not claimed...
Capital allowances for plant and machinery are given only if specifically claimed by completing the relevant boxes on an annual tax return. Allowances are not claimed...
Capital allowances are available for qualifying capital expenditure on know-how where the acquirer is not within the corporate intangibles tax regime in respect of the...
Capital allowances are available and provide a deduction for capital expenditure on acquiring two particular types of intangible fixed asset: • patents, and • know-how...
Plant and machinery allowances are the most widely used form of capital allowance. Plant and machinery is often (wrongly) interpreted as if the terms ‘plant’ and...
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 plant and machinery...
Certain items of plant and machinery (see Practice Note: Plant and machinery allowances—definition of plant and machinery) are classified as ‘integral features’ by...
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 expenditure....
Research and development (R&D) capital allowances are available to all taxpayers carrying on a trade, not just companies. Therefore, an individual, or partnership of...
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 are relevant to...
FORTHCOMING CHANGE: The Conservative Manifesto and Costing Document for the December 2019 general election included a commitment to raise the rate of SBAs to 3%,...
What are capital allowances? Capital allowances are the means by which tax relief is given for some (but not all) capital expenditure. They are effectively a standardised...