Insights

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.

In 2024, HM Revenue & Customs (HMRC) has been sharpening its focus on compliance checks for commercial real estate and infrastructure deals

In this article we explore some of the practical difficulties in making SBA claims in property acquired from non-taxpayers

Article exploring the most common areas of opportunity in balance sheet and construction project tax analysis

Article exploring the capital gains tax and capital allowances position of commercial property insurance claims.

An article on the practical aspects of making capital allowances claims on construction works that are accounted for as Work in Progress.

Article explaining FA2021 changes to the Structures and Building Allowances statements and simplification rules.

A salient reminder on the need for owners (in this case a farming partnership) to plan all stages for tax purposes

HM Revenue & Customs (HMRC) have confirmed that they will accept the decision in the First-teir Tribunal (FTT) case of DAARASP LLP and BETEX

This case concerns closure notices in a capital allowances claim for software licenses held in 2018.

How do you get the best capital allowances results for your business for the least amount of work and hassle – the answer could lie in sampling your fixed asset project additions instead of full project analysis. What is often not widely understood is that businesses can select a sample of projects (e.g., from multiple takeaway outlets) to look at in detail and extrapolate the findings to the total project population. For example, if a company reported gross capital of expend

Co-operation and planning with fixtures sales are essential to make the most of any capital allowances in the deal involved

If you spend money on plant or machinery (including certain fixtures) for use in your business and regularly dispose or scrap them..

A unique feature of a furnished holiday letting (FHL) compared to other types of residential property businesses is the ability to claim or lose capital allowances when the residential property is sold. A failure to properly understand the rules can be a costly mistake for Buyers and Sellers alike. What are Capital Allowances? If you rent other residential property you should be familiar with the Rent-a-Room Scheme and Replacement of Domestic Items Relief (which replaced wear

HM Revenue & Customs (HMRC) has updated its Capital Allowances Manual (CA12300).

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

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.

Non-Statutory Clearance Applications (“NSCA”) are a useful tool in gaining additional certainty from HMRC on certain areas of tax law.