INDEPENDENT CAPITAL ALLOWANCES VALUERS

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

By : March 15, 2019 Comments Off on Resolving Capital Allowances Figures where Buyer and Seller are unable to agree quantum of Allowances on a Nursing Home

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 […]

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