Capital allowances are relevant for virtually every business in the UK as well as for investors in commercial property. In the context of allowances there is an important distinction between commercial property and residential property. Capital allowances are given for certain categories of capital expenditure, most commonly on plant and machinery. Allowances are not typicallyRead more
If you have the opportunity to locate your business in an enterprise zone (EZ), you might have the opportunity to claim enhanced capital allowances (ECAs). EZs provide simplified planning and business rates discounts. Some EZs also provide ECAs for qualifying plant (100% tax relief in the first year). These are applicable only to trading companies, for expenditureRead more
In our last article, exploring how capital allowances are received, we mentioned first-year allowances (FYAs). FYAs give tax relief more quickly than writing-down allowances and include enhanced capital allowances (ECAs). ECAs were introduced to provide an incentive for occupiers, investors and developers to include energy and water saving plant and machinery (P&M) in commercial properties. P&MRead more
In our last article, we explored the levels of capital allowances available in different property sectors. We will now explain how they are received. Taxpayers usually receive allowances on a reducing balance basis over time. The term used is writing-down allowances (WDAs). The rate at which you receive WDAs depends on the types of plant and machinery in the property andRead more
In our last article we explored the meaning of plant and machinery in the context of capital allowances. In this article we will explore the level of capital allowances in different property sectors. Capital allowances are given for various types of capital expenditure but the most commonly available allowances are for plant and machinery. Capital allowances areRead more
Rolls Royce’s new £110m turbine blade factory was recently finished in Rotherham. Not only is it the most advanced of its kind in the world but its Rotherham location makes it yet another coup for the highly successful Sheffield City Region Enterprise Zone. Situated on the Zone’s Advanced Manufacturing Park, the new facility has receivedRead more
Capital allowances are given for various types of capital expenditure, but the most commonly available allowances are for “plant and machinery”. It is therefore important to understand the meaning of this term. Capital allowances are, of course, a legitimate form of tax relief relevant to most businesses and commercial property investors. This article will considerRead more
24 July 1996 is one of a number of significant dates for capital allowances. If you are buying a property, whether old or new, you will need to prove your entitlement to claim allowances. You will also need to prove your entitlement if you are trying to claim allowances on a property which you boughtRead more
Property owners ought to check their recent capital expenditure as they may qualify for the Business Premises Renovation Allowance (BPRA), which is coming to an end on the 31st March for corporate tax payers and 5th April for individuals. What is the BPRA? BPRA was introduced in 2007 to give an incentive to bring derelict or unused properties in a disadvantagedRead more
Will the new Chancellor continue the Government’s commitment to promoting economic growth via capital investment incentives such as the Annual Investment Allowance in Wednesday 23rd November’s Autumn Statement? Stuart Rivers of capital allowance specialists Stuart Rivers Associates really hopes so. In fact he would encourage Mr Hammond to take the opportunity to increase this particularRead more
