Landmark Capital Allowances Case: Orsted West of Duddon Sands v HMRC (Gunfleet Sands)
A recent Court of Appeal ruling in Orsted West of Duddon Sands v HMRC has significant implications for businesses claiming capital allowances, particularly in the infrastructure and renewable energy sectors. The case revolved around whether preliminary studies and surveys carried […]
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First Tier Tribunal Decision – Capital Allowances tax case regarding the construction of Quay Walls
The First Tier Tribunal (FTT) has published its decision on the case of The Mersey Docks and Harbour Company Limited (Mersey Docks) V HMRC.
It concluded that the expenditure incurred on the construction of the quay wall in […]
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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 […]
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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 […]
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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 […]
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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.
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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 […]
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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 […]
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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 […]
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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 […]
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