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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