Insights

Capital investments, and particularly more complex investments, with greater upfront risk are likely to be most affected by the Orsted ruling with reduced qualifying costs for tax purposes. In this article we explore the tax implications of the ruling in detail.

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

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

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

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

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

Warehouse treated as a 'cold store' and 'silo for temporary storage' enabling capital allowances win at Tribunal.

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

The recent case of Inmarsat Global Limited v The Commissioners for Her Majesty’s Revenue & Customs [2021] UKUT0059(TCC) is an appeal against a decision of the First-tier tribunal (FTT) that expenditure on the cost of launching six satellites between 1990 and 1996 was not eligible for capital allowances. It was not disputed that had the company constructed and operated the satellites the associated launch costs would qualify for plant and machinery allowances under the ‘provis

Can a hole in the ground be an item of plant or machinery? The hole here was in fact a sophisticated underground cavern which had been artificially created by dissolving rock salt and then forcing the water out to be replaced by gas, which was held for storage. The capital allowances rules for ‘plant and machinery’ generally distinguish between items which are used in a trade (qualifying) and the setting in which the trade is carried out (non-qualifying). But the distinction

The case of Revenue and Customs Commissioners v SSE Generation Ltd [2021] will be of interest to anyone involved in capital allowances because it discusses in some detail the application and principles behind the statutory ‘structure’ exclusions contained in the Capital Allowances Act (‘CAA’) 2001 s22 and its potential exemptions in CAA 2001 s23 – List C. More specifically, how narrowly some of the terms in s22 need to be construed and applied as well as what needs to be cons

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