Company Capital Allowances

Capital is not defined in statute and the meaning has been discussed on numerous occasions in numerous, quite often, high profile cases. Let’s have a look at one of them.  This is a quote from Viscount Haldane in John Smith and Son against Moore when he said, ‘It is not necessary to draw an exact line of demarcation between fixed and circulating capital.‘  We probably wouldn’t use the phrase circulating capital. We’d probably use stock and trade now. Since Adam […]

Capital Allowances on Cars and Vans Explained

A claim can be made for capital allowances in respect of any cars or vans which are used in a business but only on the part that relates to business use: 1. Any qualified expenditure incurred on or after 6 April 2009 on cars is allocated to one of the two general plant and machinery pools on the basis of the car’s CO2 emissions. 2. In the event cars are also used for non-business purpose they will be kept in […]

Expertise on Capital Allowances on Buildings

Understanding the complexity of capital allowances on buildings is a tricky business. Below you will find details for different building types and different circumstances. If you require consultation on how to reclaim capital costs on buildings through a tax rebate then please contact us today on: +44 (0) 2076 295005 or +44 (0) 7747 608854 Introduction to Capital Allowances on Buildings CA expenditure incurred on certain integral features of buildings attracts the 8% special rate of WDAs (writing down allowance). […]

Can You Carry Forward Capital Gains Tax Allowances?

Understanding whether it is possible to carry forward capital gains tax allowances depends in no smalle measure on the type of capital allowances involved. If you need industry leading capital allowance consultants then contact us today. Annual Investment Allowance (AIA) Most businesses can claim an AIA for expenditure on most plant and machinery, apart from cars. In many cases (depending on the level of expenditure) this may mean it is possible to claim the entire expenditure on qualifying items against […]

How To Calculate Taxable Profits For Your Business

As already mentioned, the starting point is to decide on the accounting date, i.e., the date at the end of the accounting period. Any convenient date can be chosen, e.g., the anniversary when the business commenced or, in a seasonal business, a date when trade is slack and stocks are low. This date can be changed as and when necessary, though whatever date is chosen it is easier to work out the tax payable if the same date is kept […]

Capital Allowances on Property Improvements

If you are outfitting commercial properties, capital allowances are a way of gaining tax relief against the value of the capital spent on improving those properties. Capital allowances apply to all properties within the commercial sector and the tax relief that can be gained comes in the form of a percentage rebate or reduction in the size of your tax bill. Capital allowances exist as a government incentive for companies to spend their capital and encourage large scale growth within […]