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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Capital Allowances for Construction & Property Expenditure – Practical Guidance & Update
Introduction
Capital allowances have become a major driver in the UK’s recovery allowances and been so front and centre of the Government’s drive to encourage investment, particularly in light of higher 25% corporation tax.
This webinar will provide you with a better understanding […]
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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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Lovell Consulting’s complimentary capital allowances update webinar outlines tax savings available by reviewing current and historical construction expenditure and commercial property purchases. To subscribe click here
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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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, […]
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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 […]
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Court of Appeal Decision – Capital Allowances Tax Case Regarding Disputed Expenditure on the Structures of an Enrichment Plant
The Court of Appeal (Civil Division) has published its decision on the case of Urenco Chemplants Limited and Urenco UK Limited v HMRC [2002] EWCA CIV 1587.
It overturned decisions made by the Upper […]
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