Following the announcement in October 2018 of the
introduction of a new capital allowance for expenditure incurred on non-residential
structures and buildings (SBA), HMRC have now published detailed secondary
legislation for consultation.
Comments are invited by 24th April 2019, with an
overall response to the consultation published in May 2019.
Once finalised, it will be introduced as a Statutory
Instrument and the […]
Enterprise Zones were reintroduced in 2012 to encourage economic growth and investment.
Businesses basing themselves on Enterprise Zones can access a number of benefits:
Up to 100% business rate discount worth up to £275,000 per business over a 5 year period
Simplified local authority planning
Government support to ensure that superfast broadband is rolled out throughout the zone, and, […]
Read moreCapital allowances may be claimed in a variety of trades and entities. Often overlooked due to its tax status, there is a genuine interaction between REITS and capital allowances as explained below.
Background
Real Estate Investment Trusts (REITS) are tax efficient property investment companies. They were first introduced to the UK in 2007.
The main benefit of having […]
Read moreBenefits of Claiming Annual Investment Allowances
The Government has tried to incentivise business to accelerate investment in plant and machinery. It has done this by introducing an Annual Investment Allowance (AIA). Capital allowances are normally given over time. The AIA enables all the allowances to be accelerated in 1 year, up to an AIA annual limit. […]
Read moreTax Case Summary: Drilling Global Consultant LLP v HMRC [2014]
Release Date: 11 September 2014
Overview
Whether an LLP, whose members are an individual and a limited company is a qualifying person entitled to claim the annual investment allowance (AIA) within the meaning of s38A(3)of CAA2001.
It was held by the First-Tier Tax Tribunal that a mixed LLP, […]
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