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    Corporation tax - Capital allowances - General principles - Capital expenditure - Basic rule - 4045

    Notably, the general rule is modified for: a. capital allowances claimed in respect of assets used for the purposes of employment. Here the test is more stringent, and additionally requires that...

    Corporation tax - Capital allowances - Plant and machinery - II. Pools - Allocation of expenditure - Special rate pool - Cars with emissions of over 110g/km - 4585

    Where a car registered on or after 1 March 2001 has an EC certificate of conformity (or UK approval certificate) showing a CO2 emission level of over 110g/km, it is termed a special rate car...

    Corporation tax - Capital allowances - Plant and machinery - III. Separately identified assets - Short life assets - Definition - 5090

    A short life asset can essentially be defined as any asset that is expected to have a working life of less than 8 years from the end of the chargeable period in which the expenditure occurred,...

    Corporation tax - Capital allowances - Plant and machinery - IV. Assets for leasing - Non-long funding leases - Assets leased in the course of a trade - a. UK leases and overseas leases finalised on or after 1 April 2006 - General rules - 5430

    Where a trade consists of, or includes, the leasing of plant and machinery, capital expenditure incurred on the provision of assets for leasing either within the UK or overseas (where the lease...

    Business taxes - Capital allowances - Low and zero emission cars

    Low and zero emission carsThe Budget proposed changes to the capital allowances (CAs) which businesses can claim for cars. From 1 April 2021 for companies (6 April 2021 for businesses which...

    Coronavirus measures and other Budget announcements

    The Budget in mid-March 2020 has been completely overshadowed by coronavirus. Nevertheless, most of the changes announced in it will go ahead as planned. How might some of these affect you and...

    7. Cars - What are the special rules for cars? - Rate of CAs

    Rate of CAsThe AIA isn’t available in respect of any vehicle that counts as a car for tax purposes and the expenditure will normally be allocated to either the normal plant and equipment pool...

    Will new CO2 ratings affect car-related taxes?

    From 6 April 2020 cars will have their CO2 emissions based on new more realistic levels. HMRC has already announced new scale charges for company cars but how will the new CO2 ratings affect...

    Business cars - maximising the tax relief

    Special rules apply to capital allowance tax deductions for cars, which are far less generous than for other types of machinery or equipment used in your business. The good news is that there...

    Are there tax advantages to plug-in cars?

    You’re considering going green with your next company car to take advantage of the government’s grant for plug-in vehicles. But how will it affect your and your company’s tax position?