If you are a property owner who has claimed capital allowances, you should carefully review the possibilities and arrange things in a manner to retain the tax savings you had received from the capital allowance claims. If you have not claimed capital allowances, but could have claimed it under relevant rules, ... Read More
The general rule is that only the owner of an asset can claim capital allowance on that asset. In the case of hire purchase, the person hiring the asset does not legally become the owner of the asset until the last hire payment has been made. It would thus seem that ... Read More
Manufacturers are applauding a key change to the tax regime for capital allowances that gives a substantial cash boost to companies that invest in the most up to date machinery.
As part of the chancellor’s plans, in the near future companies will be able to claim tax allowances under the ‘short life ... Read More
In a separate article, we noted that persons engaged in the trade of extracting different kinds of deposits from the earth, such as sand/gravel, oil and hard rock or in the field of geothermal energy are entitled to claim Mineral Extraction Allowances (MEA) once they begin actual trading. In that article, ... Read More
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