Capital Allowances Article: How to Handle the Structures and Buildings Allowance
By : Julie Davies December 4, 2019 No Comments on Capital Allowances Article: How to Handle the Structures and Buildings Allowance
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Capital Allowances Case: Update on SSE Generation Limited v The Commissioners for HMRC
By : Julie Davies December 3, 2019 No Comments on Capital Allowances Case: Update on SSE Generation Limited v The Commissioners for HMRC
UPPER TIER TRIBUNAL TAX CHAMBER There have been a run of cases heard before the courts relating to civil and structural works, with debate about what constitutes a structure as opposed to plant. In August 2019, the FTT heard The Cheshire Cavity Storage 1 Limited v Anor case. This concerned a taxpayer who operates gas […]
Read moreUnderground Gas Storage Cavities & Capital Allowances
By : Julie Davies November 20, 2019 No Comments on Underground Gas Storage Cavities & Capital Allowances
CHESHIRE CAVITY STORAGE 1 LIMITED and EDF ENERGY (GAS STORAGE HOLE HOUSE) LIMITED V HMRC [2019] FIRST TIER TRIBUNAL TAX CHAMBER (FTT) Background Both appellants were companies in the EDF Energy PLC Corporate Group and they operate gas storage facilities on adjoining site is Cheshire. The Companies used underground cavities filled with brine to store […]
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Capital Allowances – Furniture, Fixtures and Equipment Expenditure
By : Julie Davies November 6, 2019 No Comments on Capital Allowances – Furniture, Fixtures and Equipment Expenditure
Capital Allowances – Keeping track of accounts coded Furniture, Fixtures and Equipment expenditure – Be careful! Typically, Accountants recognise the potential to claim allowances on accounts coded Furniture, Fixtures and Equipment (FF&E). This is normally for directly paid invoices for equipment where the invoice descriptions are clear and unambiguous. These are normally identified in the […]
Read moreHMO Lettings & Capital Allowances
HORA TEVFIK V THE COMMISSIONERS FOR HER MAJESTY’S REVENUE & CUSTOMS FIRST TIER TRIBUNAL TAX CHAMBER (FTT) Claiming capital allowances on Homes of Multi Occupancy (HMO) has long been a hot potato, with confusion surrounding what is deemed to be within a residential dwelling and what is not. To clear up any misconceptions, in recent […]
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Groundhog Day – HMRC Loses Appeal To Upper Tax Tribunal: Late Capital Allowances Claim
By : Julie Davies August 8, 2019 No Comments on Groundhog Day – HMRC Loses Appeal To Upper Tax Tribunal: Late Capital Allowances Claim
Further to our article titled ‘The Lazarus Impact – Making very Late Capital Allowances Claims’ where the First Tier Tax Tribunal allowed a pub company (the taxpayer) to file a very late capital allowances claim. HMRC appealed the First Tier Tax Tribunal’s decision at the Upper Tax Tribunal. The taxpayer won again and HMRC lost […]
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Lovell Consulting Student Prize Winner 2019
Each year Lovell Consulting awards a prize of £1000 to an outstanding quantity surveying student at the University of Reading. Lovell Consulting are pleased to announce the winner of the Lovell Prize 2019 is James Anderson.
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