C

    Corporation tax - General principles - Liability to tax - Accounting periods - Long period of account - Other income and deductions - 1170

    The following table summarises how other items are allocated. Type of income/deductions Basis of allocation Non-trading loan relationship credits and debits Not specified by legislation Where possible,...

    Corporation tax - Capital allowances - General principles - Cash basis - 4275

    Since 2013/14 a new method of accounting for profit has been available for unincorporated traders. The cash basis allows businesses to account for profit based on a simpler method of receipts...

    Corporation tax - Groups of companies - Group companies - Losses - Calculation of the relief - Eligible losses - 13225

    Current year losses eligible for group relief are: - trading losses (¶11095), including excess capital allowances (¶4000); - non-trading loan relationship deficits (¶11255); - non-trading...

    Corporation tax - Special situations - Companies with investment business - Management expenses - Allowable expenses - 16185

    The following types of expenses are deductible: - capital allowances on plant and machinery (¶4295+) used for business purposes are given by deduction from profits of the accounting period....

    Income tax - Trading income - Sole traders - II. Losses - The continuing business - Losses available for relief - 21300

    Capital allowances are deducted as an expense of the trade and therefore automatically create or augment a loss. Balancing charges are treated as a trading receipt and consequently reduce the...

    Capital gains tax - Specific types of asset - Land and interests in land - Miscellaneous provisions relating to land - Buildings qualifying for capital allowances - 49200

    Losses arising on the sale of a building may be restricted to take account of capital allowances previously given. However, a building is treated as being part of the land and, as such, the restriction...

    Capital gains tax - Specific types of asset - Other assets - Plant and trading assets - Assets on which capital allowances could be claimed - 49915

    Where a disposal of an asset on which capital allowances could be claimed results in a: - capital gain, any allowances already given are clawed back by way of a balancing charge; or - capital...

    Value added tax - Input tax - Capital goods scheme - Calculation - Interaction with other taxes - 79835

    The scheme's adjustments affect capital allowances, research and development expenditure, and capital gains tax computations. Where a capital goods scheme adjustment requires VAT to be paid to...

    3. Pooling and writing down allowances - What are capital allowance pools?

    What are capital allowance pools?When you buy an asset which qualifies for CAs the cost is added to a pool of expenditure. When you buy another asset (or take possession of one) it is added to...

    Capital allowance planning when incorporating your business

    There are potentially significant tax and NI savings to be made by incorporating your business. This includes a one-off planning opportunity when you buy equipment. How can you maximise your...