In a separate article, we looked at First Year Allowance (FYA) that typically involves allowing taxpayers to write off a percentage of the expenditure of providing a capital asset in the year it was acquired. Writing Down Allowance (WDA) is different in that you can claim up to a set percentage ... Read More
Where a fixture goes along with the leased property to a lessee, the owner of the fixture is determined by the particular facts of the case.
Where the lessor was or would have been entitled to claim PMA on the fixture, and the lessee pays a premium for the lease that is ... Read More
A lease can be of a building or land which is received by the lessee along with several permanent fixtures forming part of the asset. Alternatively, the lease can be an equipment lease for plant and machinery purchased by a lessor and leased out to a lessee. The plant and machinery ... Read More
In other articles we have seen that when a disposal event occurs, taxpayers are subjected to a balancing charge or allowed a balancing allowance. A balancing charge involves charging back excessive capital allowances claimed and balancing allowance provides relief for claims that are short.
Capital allowances are considered excessive when the disposal ... Read More
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