Corporate Governance and Tax Avoidance

Corporate Governance Incentives and Tax Avoidance

The question of tax avoidance has been brought into prominence in recent years by reason of a number of important court cases in the UK and, in particular, the disclosure requirement regarding tax avoidance schemes. This topic is of such overwhelming importance that the reader should have a general knowledge so that in the course of reading the chapters to follow he would be able to appreciate the implications of any tax avoidance device he might be thinking about. A […]

Residential Property Capital Allowances

Residential Property Capital Allowances

To reclaim the correct and full amount of tax back from HRMC it is important to understand the details of what is allowed under capital allowances. If you need thorough advice please click here to go to our homepage where you can find contact information to speak with an expert from the best capital allowances consultants available. Plant and machinery CAs are not available on any furniture and equipment supplied with accommodation let furnished. Instead a “wear and tear allowance” […]

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 […]

Annual Investment Allowance Explained

Annual Investment Allowance Explained

The Annual Investment Allowance is 100% allowance for the first charge of expenditure on plant and machinery, and it was introduced with those other huge changes in 2008. It’s available for any size business, from a smallest to the largest, but it’s only one per group of companies, so the mighty BP, for example, would only have one AIA in the whole of its group. It’s very important that we remind people that it’s not available for cars, but it […]

Capital Allowances Property Income

Capital Allowances Property Income

As far as landlords of domestic property are concerned, the situation has been quite fluid over the last few years. Before 2013, a landlord could have the renewals basis. That meant that when you wanted to replace a white good or a piece of furniture, your first spend was dead spend, your second spend was life spend, and you could write it off in the P&L (profit and loss).  Then, in 2013, it was all changed and the wear and […]

Company Capital Allowances

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 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). […]

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 […]