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.

A rates mitigation scheme for 'occupation' might be effective for non-domestic rates purposes but is unlikely to withstand scrutiny for 'use' in claims for Structures and Buildings Allowances.

When presented with a tax computation for review, the most important category of expenditure that frequently reveals hidden behaviours and compliance risk is what has been treated as ineligible for a tax deduction – the ‘non-qualifying’ costs.

Court of Appeal decision summary on the pre-construction (operational studies) costs for a major offshore windfarm.

Motor deals succeeds at Tax Tribunal on treatment of conversion costs being eligible for 100% 'Business Premises Renovation Allowance'

Tax Tribunal determines that expenditure on a new quay wall qualifies for plant and machinery allowances

Invest, Invest, Invest

An invalid s198 election is a potential win-win for HMRC an easy target - don't lose out - find out all you need to know in this article.

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

An article covering some of the most common tax pitfalls and opportunities on works to an existing building with tips and links.

This recent tax case concerns the capital allowances treatment of 26 timber log camping pods at an outdoor activity centre in Wales.

The Upper Tribunal (UT) has now considered last year's First-tier tax (FTT) tribunal decision on the capital allowances treatment of certain costs associated with offshore windfarms and whilst it agreed with FTT on a number of issues it took a different view on the eligibility of preliminary studies and surveys, narrowing the scope for this claim and potential claims for similar expenditure on other projects. Windfarm The UT decision concerned the following issues: - Whether

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.

Our working arrangements and office environments are changing; as is what we expect from the spaces we utilise for developing business ideas and human interaction. Creating great office accommodation costs but perhaps not as much as you think when you factor in the current tax allowances available to most UK tax paying businesses - how would an effective 17.5% cash saving affect your project plans? The average £250,000 commercial office fit-out contains expenditure that is 7

An article examining capital allowances in commercial real estate transactions (including furnished holiday lettings)

An article on the tax treatment of costs for specialist building parts in uranium treatment facility