Insights

Here we set out some of the key issues we expect to be examined for property additions to meet Covid-19.

LRR remains the only real tax incentive for businesses who clean up contaminated or long-term derelict land and buildings.

Budget 2020 – Capital Allowances Summary

Encouraging new business investment is going to be high on the Chancellor’s agenda in next months Budget and there are two areas where we expect an announcement in addition to the previously trailed announcements on Research & Development Expenditure Credits (to increase from 12% to 13%) and Structures and Building Allowances (to increase from 2% to 3%). Annual Investment Allowance The Annual Investment Allowance (“AIA) was increased from £200,000 to £1,000,000 in the 2018 Bu

HM Revenue & Customs (“HMRC”) have updated their manuals on long life assets (LLAs) to remind affected taxpayers that the concept of ‘entity’ or ‘entirety’ for the purposes of applying the LLA rules is a question of tax law and not accounting opinion. For example, a capital allowance claim for an underground cable system (including television, telecommunications, or electricity supply systems) will often include the costs of excavating the land and providing ducting that hous

The Office of Tax Simplification has published a document setting out the scope of a new review into simplifying claims and elections.

With the introduction of Structures and Buildings Allowances and their inclusion in CPSE general pre-contract contract enquiries for commercial property transactions, capital allowances are likely to come under increased scrutiny in 2020. Sellers that fail to understand their historical claim positions or plan for what maybe legitimately expected in terms of enquiries could find themselves with unwanted delays, higher legal costs and even an unsuspecting tax bill. Buyers that

Statistically based sampling for major UK pub expansion.

Case law and tribunal decisions are how statutory interpretation evolves. It can reinforce long term views and sometimes challenge the settled status quo. It plays an essential role in informing all capital allowances advice and a summary of the most topical capital allowances tribunal decisions are summarised below. Grain silo and building facility tax win 10 January 2019 In the recent case of (1) STEPHEN MAY (2) STEPHEN MAY AND G MAY T/A S.C. MAY and THE COMMISSIONERS FOR H

Availability of 100% enterprise zone allowances through the use of a “Golden Contract” for the creation of data centres

SSE win hydro tax case on structures as plant

Specialist building parts in uranium facility fail ‘plant’ test?