Another ‘plant’ case, another taxpayer victory

As always with court and tribunal decisions concerning the definition of ‘plant’, the case of May v HMRC (2019) TC06928 is of interest both at a specific level and because of its broader implications.

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Why capital allowances need proper consideration in transactions

In our recent Tax Journal article we discuss how FA 2012 introduced the pooling and fixed value requirements, denying allowances to the buyer of a commercial property and to future owners if the vendor does not first ‘pool’ qualifying expenditure.

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Capital Allowances Risks for UK Property Sellers

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Welcome to our new website

Those of you who have worked with us for a while will have noticed that we have completely revamped our website. Our aim has simply been to show more clearly how we can help in the sometimes-complex field of capital allowances.

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What does Ray say?

This blog, which will cover a huge range of technical and practical issues relating to capital allowances, is written by Ray Chidell MA (Cantab), CTA (Fellow).

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Fixtures – the essential starting point for Capital Allowances claims

Capital Allowances cut tax bills (saving income tax for sole traders or partners, corporation tax for companies). For those with commercial properties, the tax savings come mainly from identifying “fixtures” in a property.

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3. Buildings (CAA 2001,s.21)

In our third video, Ray unravels the meaning of Plant & Machinery and explains the statutory position and assets that don't qualify as expenditure.

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