Capital Allowances Special Rates Pool

Capital Allowances Special Rate Pool

Below you will find information and examples of pooling expenditure, plant and machinery pools, long life and short life assets and unrelieved expenditure. Pooling of Expenditure Qualifying expenditure on P & M, subject to certain exceptions, is pooled for calculating WDAs and balancing charges. For this purpose, there are single asset pools, class pools and the main pool. Qualifying expenditure on plant and machinery is placed in a pool for calculating WDA, balancing allowances and balancing charges. If an expenditure […]

First Year Capital Allowances

First Year Capital Allowances

When trying to understand how much your business can claim back against it’s tax bill it is important to consider first‑year allowances. First‑year allowances were effectively abolished from April 2008, but the ones that remained are those given at 100%. These are available to businesses who boost green technology, and energy‑saving. I stress energy‑saving as opposed to energy production, so three effective items here. We’ve got ultra‑low emission vehicles. We have got energy and water‑saving plant and machinery. There’s a […]

Decorating Capital Allowances

Decorating Capital Allowances

A flat conversion allowance is available to convert or renovate empty or underused space above shops and other commercial premises for the purpose of short-term letting. This allowance can only be claimed if it is not an allowable business deduction. Subject to conditions below, a claim can be made for the following capital expenditure: (a) conversion costs; (b) renovation costs; (c) associated repair costs; and (d) the costs of providing access. The above costs can be claimed if one or […]

Hotel Capital Allowances

Hotel Capital Allowances

Capital allowances for hotels are available for construction costs in respect of a qualifying hotel or hotel extension. Writing down allowances (WDA) were reduced from 2008-2009 and were withdrawn completely from April 2011. However, enterprise zone hotels which are qualified for enterprise zone allowances on buildings continue to receive such allowances with no restriction on months of opening or number of rooms, etc. For all the cases listed above there are detailed rules governing which type of asset qualifies. In […]

Capital Allowances on Buildings

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). […]

carry forward capital gains tax 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 […]

Capital allowances on property improvements office

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 […]