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  • @ Capital Allowances

    Capital Allowances - The Case for the Defence

    A new international accounting standard (IFRS 16) becomes mandatory from January 2019; and the rule changes for leased assets will impact on companies adopting these standards. The potential complications on the tax treatment as a consequence have resulted in some calls for capital allowances to be replaced with a tax relief system based upon the accounting treatment. In this briefing we consider the options put forward by HMRC, the impact on property companies and set out the benefits of retaining the current capital allowances system.

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  • budget-briefcase-on-grey

    First and Last – Spring Budget 2017

    In his first and last Spring Budget, the Chancellor adopted a lighter touch than we usually expect, which was evidenced by one of the thinnest editions of the Red Book for many years. Many of the tax policy measures stated in the Spring Budget this year had already been previously announced in last year’s Budget and/or the Autumn Statement. However, there were some new measures that are worth reviewing, together with a recap of those previously announced which could have particular relevance to the property and construction industries.

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  • calculator and figures

    The Autumn Statement 2016 – Averting A Hard Brexit?

    With the uncertainty as to how the country’s exit from the EU will impact on the UK economy, the government decided to ease up slightly on austerity by loosening fiscal policy with some additional spending, abandoning previous policy. In this briefing we consider the measures announced by the Chancellor that are likely to be of interest to businesses: especially those in the property and construction sectors, as well as some of the missed opportunities.

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  • _@@Azu

    R&D Credits – Cashing in on the Building Blocks of Innovation

    Research and development (R&D) is a significant, yet often overlooked, aspect of the construction process. Designers and contractors regularly take specific site conditions into consideration, creating bespoke solutions to overcome particular challenges. The operational costs associated with innovation can generate generous tax relief through the R&D credit system, which can enhance cashflow and improve working capital. Yet despite the embedded innovation in the construction sector, very few companies exploit the cash generated. This briefing summarises the current position for R&D credits following the November 2016 Autumn Statement and the resulting benefits.

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  • Assisted areas

    Enterprise Zones and Enhanced Capital Allowances

    The recent publication of the Capital Allowances (Designated Assisted Areas) Order 2016 may not have made national newspaper headlines: but it did highlight the tax benefit of Enterprise Zones. This relief has been subject to many changes since reintroduction in 2012 and even HMRC’s own guidance seems limited at present. This briefing summarises the current position for Enhanced Capital Allowances available for expenditure incurred on plant and machinery within Designated Assisted Areas inside Enterprise Zones.

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