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  • VAT briefing

    VAT Case Alerts and News - March 2015

    News from recent VAT tribunal hearings and announcements by HMRC on VAT grouping, including the First Tier Tribunal ruling on SLL Subsea Engineering Ltd's case relating to the Flat Rate scheme.


  • Capital Allowances on Purchases and Sales

    Authorised Contractual Schemes: Capital Allowances Issues?

    This briefing considers the complexities that will exist for capital allowances if co-ownership authorised contractual schemes are eventually utilised for property investment. Whilst these schemes will in effect be feeder schemes for collective investment by institutions, they do nevertheless have the potential to cause confusion and uncertainty for taxpayers. This is because of the way that the fixtures rules will work for property investors who enter into transactions with these funds.


  • Clock

    The Ticking Clock: Maximising Capital Allowances in 2015

    Much has been written about the new rules for claiming capital allowances on fixtures, radically changing the approach by property buyers and their advisers. Understandably, the main focus has been on the risks now faced by the buyer who does not fully consider capital allowances early in the transaction process. This briefing focuses instead on the opportunity for property buyers to enjoy an unusually high level of relief for expenditure incurred on fixtures during 2015. The key to this opportunity is the annual investment allowance.


  • Construction image

    In depth analysis of UK Autumn Statement

    With less than six months until next year’s General election, the Chancellor did his best to appeal to the electorate whilst having to balance the books. The reform of Stamp Duty Land Tax for the residential market took many of the headlines; but what else was there for the construction and real estate sectors? Our detailed commentary is now available for download.


  • ECA Two in one out

    Enhanced Capital Allowances (ECA) Two in one out

    The 2014 Budget, presented on 19th March 2014, included some changes to the ECA Scheme for energy-saving technologies. These changes, having gone live on 7th August 2014, will affect the current composition of the Energy Technology List. Two new technologies have been added to the list - Active Chilled Beams and Desiccant Air Dryers with Energy Saving Controls. One additional change, which may have gone unnoticed, relates to variable refrigerant flow (VRF) air conditioning systems, a technology invented in Japan by the Daikin Company in 1982, which circulate the refrigerant within the building multiple fan coil units (FCUs) by use of outdoor condensing units. Before August this year, the ETL website provided a facility to enter the respective model numbers of both the condenser units and the FCUs to which they were linked, to establish whether the said combinations qualified for ECA. From now onwards, these VRF systems are no longer listed. Instead purchasers must now obtain a written statement from their supplier who must confirm that the installation meets the eligibility criteria in force at the time of the supporting evidence for the purchaser's ECA claim. The previous regime will still apply to any installations prior to 7th August 2014. To discuss the impact of these changes to your business please contact:- Andy White Director Direct +44(0)207 0617153 andy.white@aecom.com


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