New Articles

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  The Value of Capital Allowances in Loss Making Situations

  Property owners may not be inclined to claim capital allowances on the plant and machinery fixtures forming part of their fixed assets or property investments if the business is making losses. The business might be a trade, profession or property investment and the business form could be a company, individual or partnership.

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  Discovery Assessments and Capital Allowances Claims

  There is often a natural reluctance on the part of the taxpayer, or the taxpayer's agent, to limit the detailed calculations supporting the figures within a tax return on the basis that the provision of such information will prompt HM Revenue & Customs (HMRC) to raise questions that perhaps would not have otherwise arisen. Following this logic, some taxpayers do not include our capital allowances report, which provide details concerning the items of plant and machinery and the methodology adopted for establishing the qualifying expenditure for capital allowances.

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  Land Remediation Tax Relief

  Public subsidy for the supply side of house building remains constrained so the focus will necessarily shift to those incentives that do exist so that viability can be improved and more development can take place. Land Remediation Tax Relief (LRR) is one such incentive and can still play a key role in unlocking development on brownfield sites.

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  Can I Get Any More Tax Relief?

  Partners owning their surgery who decide to extend, refurbish or embark on the development of new larger premises, will need to carefully consider an area of tax relief which is often overlooked or not considered early enough on a new scheme, to benefit fully from 100% enhanced capital allowances (ECA's) available on energy equipment.

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  The Energy Act 2011

  The Energy Act 2011 came into force by royal assent on 18 October 2011. One of the main objectives of the Act is to address the lack of investment in energy efficiency and in particular the market failure within the commercial and residential property sectors to fully engage with the concept of energy efficiency.

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