B

    Corporation tax - Capital allowances - Types of asset - Plant and machinery or buildings - 4300

    In order to clarify whether certain items are plant or part of a building, statutory lists detailing buildings and structures which qualify for capital allowances were introduced. The lists are...

    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 - 5560

    Over the years there have been a number of allowances available for buildings. For expenditure incurred on or after 29 October 2018 a new structures and buildings allowance was introduced. The previous...

    Income tax - Miscellaneous income and anti-avoidance provisions - Pre-owned assets - Chargeable amount - Tangible assets - Land and buildings - 32265

    Taxable income will arise where land is occupied by an individual who either: - previously owned the land, or some other asset which was sold to finance the land (the “disposal condition”);...

    Capital gains tax - Specific types of disposal - Capital sums derived from assets - Compensation receipts - Lost or destroyed assets - 48165

    Where a capital sum such as compensation, or a payment under an insurance policy, is received for an asset which has been lost or destroyed, the capital sum received will be treated as disposal proceeds....

    Capital gains tax - Specific types of disposal - Special relationship with the seller - Gifts - Reliefs - 48355

    Certain reliefs and/or special treatments are available for the following types of gift: Type of gift Relief/treatment Reference ¶¶ Business assets Gift holdover relief s 165 TCGA 1992 ¶51585 Unlisted...

    Capital gains tax - Specific types of asset - Other assets - Sundry provisions - Negligible value assets - Criteria - 50160

    Any asset may be subject to a negligible value claim, once its value has become negligible. When considering buildings, HMRC will accept a negligible value claim based solely on the value of...

    Capital gains tax - Reliefs - Reliefs for business assets - II. Rollover relief - The original asset - Qualifying type - 51270

    The asset must also fall within one of the qualifying classes as shown in the table below. 1. Rollover relief may be available on the grant of an option over land in the UK, if the underlying...

    Inheritance tax - General principles - Valuation - Specific rules - Land and buildings - 55635

    The valuation of land and buildings is generally the subject of negotiation between the taxpayer and HMRC, which uses a team of valuation officers who may be called upon to arrive at a value....

    Inheritance tax - National heritage property - Requirements - Qualifying property - 58055

    The Board of HMRC together with the Treasury will take a view as to whether property is important for the national heritage, but property which falls within the definitions outlined below is...