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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...
Structures and buildings allowanceThe new rate of tax deduction for the structures and buildings allowance (SBA) will apply from:1 April 2020 for businesses within the charge to CT; and6 April...
If your business is relocating to another premises, there might be an opportunity to bag some extra tax deductions or use them as a factor to negotiate a better price. What’s involved?
Can a claim for CAs be made for a building?Generally, no CAs claims can be made for the cost of a building incurred before 29 October 2018, but it may be possible to make a claim for the fixtures...
The government has published draft legislation for the new structures and buildings allowance (SBA). While it confirms earlier announcements, there are one or two surprises. How much tax relief...
You’re replacing some of your firm’s machinery at great expense. Naturally you’ll want to maximise tax relief for this. Apart from the cost of the equipment, what other expenses can you...
Generally speaking, you can’t claim a tax deduction against your business profits for the cost of buildings or structures, but there are exceptions. When are you entitled to make a claim?
Capital allowances election for fixtures in buildingsWhen a commercial building is sold the seller and the purchaser can agree to apportion part of the price to fixtures which qualify for capital allowances,...
Capital allowances for fixtures in buildings recordSince April 2014 it has been crucial for prospective buyers of second-hand commercial buildings to ensure that the seller has allocated their expenditure...