Breakfast Seminar – Capital Allowances
To register for this breakfast seminar, please email nbradshaw@lovellconsulting.com
Capital Allowances Case: Update on SSE Generation Limited v The Commissioners for HMRC
By : Julie Davies
February 16, 2021
No Comments on Capital Allowances Case: Update on SSE Generation Limited v The Commissioners for HMRC
PLANT AND MACHINERY IN A CIVIL ENGINEERING CONTEXT
The long running dispute between the taxpayer (SSE Generation Limited) and HMRC in relation to what constitutes plant in the context of a hydroelectric power plant and civil engineering project has reached a conclusion in the Court of Appeal.
The case had previously been heard through the First […]
Read more
Unlocking Cash – How to Maximise Through Capital Allowances
By : Julie Davies
March 25, 2020
No Comments on Unlocking Cash – How to Maximise Through Capital Allowances
When businesses suffer catastrophic blows to their cashflow, as many are
experiencing now, it is important to explore every opportunity there is to
raise cash.
Claiming capital allowances provides such an opportunity.
Amending Tax Returns to Claim
Historic Expenditure and Reduce Tax Payable Now
Reducing tax bills is an easy way to retain cash and it is vitally
important now to maximise […]
Capital Allowances Case: SSE Generation Limited v The Commissioners for HMRC
By : Julie Davies
December 3, 2019
No Comments on Capital Allowances Case: 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 storage facilities and created […]
Capital Allowances Plant and Machinery in a Civil Engineering Context Update
By : Julie Davies
February 28, 2019
Comments Off on Capital Allowances Plant and Machinery in a Civil Engineering Context Update
UPDATE ON CASE
SSE GENERATION LIMITED V THE COMMISSIONERS FOR HMRC
HMRC TO CHALLENGE THE FIRST TIER TRIBUNAL TAX CHAMBER RULING
HMRC have decided to challenge the ruling given by the First Tier Tax Tribunal which they considered was largely in favour of the taxpayer. The case is to be heard by […]
Read more
Capital Allowances: HMRC Clutching Straws on a Grain Storage Structure
By : Julie Davies
February 13, 2019
Comments Off on Capital Allowances: HMRC Clutching Straws on a Grain Storage Structure
HMRC clutching straws on a grain storage structure :
Stephen May and another v HMRC [2019] UKFTT 32 (TC)
Overview
There has been a capital allowance case to determine whether a facility for drying, conditioning and storage of grain is a “silo provided for temporary storage” within the meaning of Capital Allowances Act […]
Read more
Capital Allowances Plant and Machinery in a Civil Engineering Context
By : Julie Davies
October 3, 2018
Comments Off on Capital Allowances Plant and Machinery in a Civil Engineering Context
SSE GENERATION LIMITED V THE COMMISSIONERS FOR HMRC
FIRST TIER TRIBUNAL TAX CHAMBER
This is the first significant capital allowances case since IRC v Barclay, Curle & Co Ltd [1969] where expenditure on capital allowances has been considered for civil engineering type expenditure.
Of particular interest is just how far […]
Read moreOTS – Report on Proposed Capital Allowances Simplification
By : Julie Davies
June 22, 2018
Comments Off on OTS – Report on Proposed Capital Allowances Simplification
The long awaited report by the Office of Tax Simplification (OTS) into the proposed simplification of capital allowances was published on the 15th June 2018. It extends to 88 pages but concludes that whilst an accounts based depreciation system would be attractive, the benefits gained would be completely outweighed by the disruption suffered by businesses […]
Read moreCapital Allowances within Offices
Both owners and occupiers of office buildings can claim substantial capital allowances but this opportunity is often missed. This can be due to confusion over the recent April 2014 capital allowances rules changes or because non-specialist solicitors, accountants and tax advisors do not recognise the full potential of available allowances. Frequently, construction cost information can […]
Read moreCapital Allowances & Landlord Contributions to Tenant Fitting Out Works
By : Julie Davies
December 2, 2015
Comments Off on Capital Allowances & Landlord Contributions to Tenant Fitting Out Works
It is sometimes essential to offer incentives to attract tenants to take space in a vacant property. Typically these will be in the form of a general cash payment, contribution to tenant fit out or a rent-free period.
Of these the contribution route can be the most tax efficient for the landlord as there is a […]
Read more