Resolving Capital Allowances Figures where Buyer and Seller are unable to agree quantum of Allowances on a Nursing Home

By : Julie Davies March 15, 2019 Comments Off

GLAIS HOUSE CARE LIMITED V THE COMISSIONER FOR HER MAJESTY’S REVENUE & CUSTOMS [2019]

UKFTT 0059 (TC)

Summary

HMRC has lost an interesting capital allowances case where it tried to limit the Taxpayer’s purchase price attributable to second-hand fixed plant and machinery to £1. The tax payer had claimed allowances of £318,792 based […]

Capital Allowances in the Retail Sector

By : Julie Davies November 9, 2016 Comments Off

Retail sector owners are often overlooking substantial tax allowances. This happens because their accountants and tax advisors may only pick up simple & obvious plant and machinery (P&M) items, such as chairs, tables, shop display and fittings. When fitting out or refurbishing a retail unit, the construction expenditure is generally not very well detailed for capital […]

Capital Allowances within Childcare Facilities & Schools

By : Julie Davies March 29, 2016 Comments Off

Nurseries have substantial imbedded plant and machinery (P&M) items and repairs. However the less obvious items often get overlooked by accountants, surveyors and tax advisors.

Why does this happen?

There are many obvious items of plant such as loose furniture and fittings which accountants can easily identify and segregate to allowances. However there are additional imbedded trade related items […]

Capital Allowances within Private Member Clubs

By : Julie Davies November 11, 2015 Comments Off

There is substantial worth of tax allowances within private member clubs. Significant savings can be achieved by considering capital allowances at an early stage. In-house accountants and tax advisors will be able to identify the apparent qualifying items of plant and machinery (P&M), such as furniture, kitchen equipment etc. When fitting out or refurbishing a […]

Capital Allowances within Restaurants

By : Julie Davies October 7, 2015 Comments Off

Restaurant owners are often overlooking substantial tax allowances. This happens because their accountants and tax advisors may only pick up simple & obvious plant and machinery (P&M) items, i.e. chairs, tables, crockery etc. When fitting out or refurbishing a restaurant, the construction expenditure is generally not very well detailed for capital allowances, therefore not easily […]

Capital Allowances within Nursing Homes

By : Julie Davies September 30, 2015 Comments Off

Introduction

Nursing homes have substantial imbedded plant and machinery (P&M) items and repairs. However the less obvious items often get overlooked by accountants and tax advisors.

Why does this happen?

There are many obvious items of plant such as loose furniture and fittings which accountants can easily identify and segregate to allowances. However there are additional imbedded trade […]

Capital Allowances Hidden Gems within Hotels

By : Julie Davies August 26, 2015 Comments Off

Introduction

Hotels are abundant in qualifying items of plant and machinery (P&M) and repairs. In the vast majority of cases, the total allowances are not fully identified by either the in house accountants or external advisors.

Why does this happen?

Hotels, in comparison to other commercial properties, have specific trade related plant that are not easily identifiable to […]

PMA

Resolving Capital Allowances Figures where Buyer and Seller are unable to agree quantum of Allowances on a Nursing Home

Capital Allowances in the Retail Sector

Capital Allowances within Childcare Facilities & Schools

Capital Allowances within Private Member Clubs

Capital Allowances within Restaurants

Capital Allowances within Nursing Homes

Capital Allowances Hidden Gems within Hotels