Dental practices can claim substantial capital allowances but this opportunity is often missed or only partial allowances are claimed. We can work with you and your tax advisers to increase the available allowances.
Purchase of a Freehold
Capital allowances can offer significant tax relief for dental practices purchasing a freehold property. These allowances enable the practice to […]
Read more
Legislation has been published for the abolition of capital allowances on commercially let furnished holiday accommodation (FHL). Anyone owning an FHL in the UK or EEA who has not claimed capital allowances may be able to claim considerable tax benefits if they act now.
The legislation will be introduced in the next Finance Bill and will […]
Read more
CRC V Altrad Services Ltd and Robert Wiseman and Sons Ltd, Court of Appeal, 28 June 2024
The Court of Appeal’s decision on 28 June 2024, in the case of CRC v. Altrad Services Ltd and Robert Wiseman and Sons Ltd, involved the application of capital allowances in the context of tax law. Here are the […]
Read more
Lovell Consulting’s complimentary capital allowances update webinar outlines tax savings available by reviewing current and historical construction expenditure and commercial property purchases. To watch the recording click here.
Read more
Transitioning Rules from Super Deductions to Full Expensing – Accounting Periods Straddling 31 March 2023
The 2 year window for claiming the 130% Super Deduction for general rate plant and machinery expired on the 31 March 2023 and was replaced by 100% Full Expensing.
Companies finalising their tax returns that do not have a 31 March 2023 […]
Read more
First Tier Tribunal Decision – Capital Allowances Tax Case Regarding Camping Pods
The First Tier Tribunal (FTT) has published its decision on the case of Acorn Venture Limited v HMRC [2023] UKFTT 995 (TC).
It concluded that camping pods used by school children as part of school residential adventure holidays did qualify as plant and machinery allowances. […]
Read more
GUNFLEET SANDS LTD V HMRC [2023] UKUT 260(TCC) 26 OCTOBER 2023
The Upper Tribunal (UT) recently considered a case that earlier in the year had been heard before the First Tier Tribunal (FTT) – a case that involved the construction of offshore windfarms at various locations around the UK coastline for a taxpayer with a trade […]
Read more
Occupiers of office buildings can claim substantial capital allowances but this opportunity is often missed or only partial allowances are claimed. We can work with you to maximise the available allowances either by working alongside your tax advisors or introducing a capital allowances specialist firm.
Case Study: Office Fit out
A tenant carries out a fit […]
Read more
COMMISSIONERS FOR HMRC V SSE GENERATION LTD
This case is an intriguing example of how a long running dispute is appealed and taken before the different stages of the Courts of Law to establish how to apply the legislation correctly.
Between 2006 and 2009, SSE Generation Limited constructed a hydro-electric power station in Gledoe, Scotland and had […]
Read more
Full expensing has arrived for companies, (well politicians are expert at full expensing). General pool plant and machinery (18% wda) incurred from 1 April 2023 to 31 March 2026 will attract 100% first year tax relief without any cap. For integral features (6% wda) this will attract 50% allowance in the first year with the […]
Read more