Apr 122016

Those of you who aren’t interested in Euro-law or compliance matters will probably be tempted to skip this article. While these are extremely important topics, I must confess, I too find substantive tax law more interesting. But instead of turning the page, I strongly suggest that you carry on reading. For these new rules aren’t confined to a single particular tax pigeonhole, but will affect a range of tax incentives such as the EIS and VCT Schemes.

In certain cases, failure to comply with the new rules may lead to a denial of the relevant tax break.

(This article can be downloaded in pdf format at Academia.edu)

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Jan 182015

Updated January 2016

In the case of Drilling Global Consultant LLP v HMRC, a limited liability partnership (“LLP”) was denied the annual investment allowance on upgrading an aircraft on the basis that its members weren’t all individuals. The result is a straightforward application of the capital allowances legislation. However, the arguments put forward by the LLP are of some interest, as well as being totally wrong.

(This article can be downloaded in pdf format at Academia.edu.)

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Mar 242014

The following is a summary of the main measures affecting capital allowances that came out of the recent Budget. There isn’t a great deal to say, though the increase in the annual investment allowance for plant and machinery expenditure will certainly be welcome.

In our introductory article we concentrated on plant and machinery, as this is the most common type of allowance. However, we also mentioned that there are other types of allowances available – we shall encounter some of these in the following summary. Continue reading »

A Basic Introduction to Capital Allowances

 Capital Allowances, Corporate Tax, Property Tax  Comments Off on A Basic Introduction to Capital Allowances
Feb 132014

This article is a basic introductory guide to capital allowances. What are they, what are the basic rules about claiming this valuable tax relief, and is it always a good idea to claim?

We shall be answering these questions in the following discourse. Subsequent articles will deal with the special types of allowance available for plant and machinery, and we shall end the series by looking at the new rules for fixtures.

But first, the most important question of all…

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