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    Corporation tax - Capital allowances - General principles - Capital expenditure - Ascertaining amount of expenditure - 4065

    Where VAT is incurred in connection with the acquisition of assets, and the VAT is not recoverable, either in part or in full, the irrecoverable element is treated as capital expenditure. Where...

    Corporation tax - Capital allowances - Plant and machinery - Quantifying the expenditure - Additional costs - 4465

    Additional costs may include any of the following: - altering buildings incidental to the installation of plant and machinery for the purposes of the trade; - demolition of existing plant and machinery...

    Corporation tax - Capital allowances - Buildings - Business premises renovations - Calculation of allowance - Disposals - 5670

    There will be a balancing adjustment if, within 7 years (5 years for expenditure incurred on or after 1 April 2014) of the premises being made available for letting, one of the following events happens:...

    Corporation tax - Capital allowances - Sundry capital allowances - Research and development - Calculation of allowance - VAT capital goods scheme - 5925

    Where, as a result of the capital goods scheme (¶79700), an additional VAT liability is incurred in respect of any R & D expenditure, the amount of the VAT liability is also treated as R...

    Value added tax - Input tax - Partial exemption - Standard method - 79485

    If the result of the values-based formula is not a whole number, it should be rounded up to the next whole number, except where a business has residual input tax in excess of £400,000 per month,...

    Value added tax - Input tax - Capital goods scheme - 79700

    The capital goods scheme applies to businesses that make both taxable and exempt supplies, within a 5- or 10-year period (depending on the type of asset acquired). It also applies to businesses...

    Value added tax - Special accounting methods - Flat rate scheme - Eligibility - Restrictions - 83080

    An application to join the scheme will be denied if any of the following applies: - the business is not registered for VAT; - the business ceased to operate the flat rate scheme in the 12 months preceding...

    Value added tax - Land and buildings - Land and existing buildings - Freehold and leasehold disposals - The option to tax - Unaffected supplies - 84765

    The option to tax has no effect on the following supplies: Supply Further information Any supply of a dwelling or relevant residential property A sale of property which is treated as the transfer...

    Value added tax - Administration - Records - VAT account - 87055

    Taxable persons must maintain a VAT account for each VAT period (¶81295). The VAT account must be split into sections for VAT payable and VAT deductible and show the following information: -...

    9. Capital goods scheme - What is the capital goods scheme (CGS)?

    What is the capital goods scheme (CGS)?The CGS is not optional. You must use it where the cost of purchases of specific types of goods exceed limits. VAT paid on most purchases you make for your business...