Insights

Today's capital allowances Budget changes might sound like a giveaway with a new 40% First-Year Allowances (FYA) for all businesses (with extensions for leasing) but that 18% to 14% Writing Down Allowance (WDA) reduction for existing 'main rate' plant or machinery (P&M) means that overall HM Treasury is hoping to raise an extra £1bn to £1.5bn annually from 2026/27.

Invest, Invest, Invest

Learn about the UK's special tax sites and the potential Enhanced Capital Allowances available with example comparison and links to maps.

An overview of the latest developments in 'Full Expensing' following the UK Chancellor's Autumn Statement 2023

A round-up of our most popular and topical articles covering capital allowances case law, legislation changes, news and related announcement

With no new capital incentives to aide investment and growth, it is a back-to-basics approach to claim optimisation which has become increasingly complex over the years with 'Allowances Statements', 'Fixed Value' and 'Mandatory Pooling Requirements' and the most recent, and relatively short-lived, 'Super Deduction'. Yesterday's Autumn Statement provided nothing much beyond existing allowances to drive growth and encourage businesses to make differential capital investment in

Summary of capital allowances announcements in Kwasi Kwarteng's first fiscal statement to try and stimulate growth in the UK economy.

Proposals for UK Capital Allowances Reforms 2023 with links to survey details.

A short summary of recent topical developments in tax and property with links to guidance and discussion.

Article exploring changes to Non-Resident Landlords tax and capital allowances opportunities

HMRC published new draft guidance on 18 January 2022 on the requirements for large businesses to notify 'uncertain tax treatment'

A round-up of our most popular and topical articles covering capital allowances case law, legislation changes, news and related announcements. Tax Costs of Commercial Property Insurance Claims Work in Progress and Capital Allowances Structures and Building Allowances Simplification Farming Partnership Loses Holiday Cottage Tax Claim Expenditure in Connection With Specialist potato storage warehouse win for taxpayer Free Online Super Deductions Course Notable Victory for Euroc

Following last month’s budget announcement on the Capital Allowances Super Deduction, we have received a response from the Capital Allowances Technical team at HM Revenue & Customs (“HMRC”) confirming that claims for certain landlord areas within commercial properties should be eligible for the accelerated First Year Allowances (FYAs). Common Areas and Management Suites Although HMRC has committed to publishing full technical guidance following its initial factsheet it is not

Today’s budget announced a temporary increase in tax relief for companies who invest in certain types of new plant and machinery

On 5th February the government passed the legislation announced in Budget 2020 to extend and tighten the availability of 100% First Year Allowances for low emission cars. The measure is designed to incentivise the uptake of zero CO2 emission vehicles by businesses and support the Government’s announcement of its desire to phase out the sale of new petrol, diesel and hybrid cars from 2030. This is also intended to support its wider policy on climate change to reduce all greenh

The UK Government open up a bidding process in England to establish at least seven new Freeports.

With the UN Climate Change Conference UK 2021 coming to Glasgow in less than 12 months time we wanted to shine a spotlight on tax

The OTS has now concluded its latest review into capital allowances elections and made the following recommendations

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