INDEPENDENT CAPITAL ALLOWANCES SPECIALISTS

Blog image

Capital Allowances Tax Case

Capital Allowances Tax Case Regarding Disputed Expenditure on the Structures of an Enrichment Plant

URENCO CHEMPLANTS LIMITED AND URENCO UK LIMITED V HMRC [2022] UKUT 00022 (TCC)

Overview

In 2018, Urenco (The Appellant) constructed a £1bn specialist facility at Capenhurst in Cheshire, which is used for the enrichment of uranium and the “deconversion” of the radioactive, corrosive, toxic […]

Read more
Blog image

Capital Allowances and Wind Farms: Recent Case

Gunfleet Sands Limited – FTT Generates Decision

In Gunfleet Sands Limited and others v HMRC, the First Tier Tax Tribunal (FTT) considered whether Capital Allowances claimed on expenditure for studies and project management prior to the construction of the Windfarms was on the provision of plant. There were four appellant companies; who were all members […]

Read more
Blog image

Capital Allowances: Research and Development Tax Case

Recent Research and Development (R&D) Tax Case Implications for Capital Allowances Claims

Appeal Number: TC/2019/06690

Grazer Learning Limited appealed against HMRC for a tax credit enquiry amounting to £26,050 regarding expenditure incurred on R&D for the accounting period ending 31 October 2017. The £26,050 was initially accepted and paid to the Appellant on 6 June […]

Read more
Blog image

Update on BPRA Case – Upper Tier Tribunal

LONDON LUTON BPRA PROPERTY FUND LLP V THE COMMISSIONERS FOR HMRC

Following the decision reached by the First Tier Tribunal (FTT) that a significant amount of costs incurred by London Luton BPRA Property Fund LLP (Fund) to OVL (developer) ‘in connection with’ the conversion of a disused flight training centre into a hotel qualified for BPRA, […]

Read more
Blog image

Lexis Nexis Webinar – Capital Allowances 2021

In this webinar, specialist speakers John Lovell and Kirsty Palacci will provide a masterclass in capital allowances.

The Webinar will cover:

Capital allowances in contextChanges in the 2021 BudgetSuper capital allowancesConstruction/Expenditure ClaimsPurchased Properties ClaimsFreeportsCommon misconceptionsStructures and Buildings Allowance

To view the preview video and subscribe to Lexis Nexis Webinars please click here

Read more
Blog image

Capital Allowances – Brought back down to Earth

Capital Allowances denied on satellite launch costs

Overview

The First-tier Tribunal (FTT) and Upper Tribunal (UT) both found in favour of HMRC in denying Inmarsat Global Limited capital allowances on the launch costs of six leased satellites during the 1990s. Inmarsat had succeeded the trade of The International Maritime Satellite Organisation (IMSO), who had initially incurred the […]

Read more
Blog image

Super Deductions – Full Relaxation for Property Companies

Great news for Property companies.

Super capital allowances have been extended to Property companies. A late amendment was issued to Finance Bill 2021  as link below. This is positive as they were previously going to be denied allowances apart from to shared communal areas. It arises from an amendment to Finance Bill 2021. It removes the […]

Read more