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Capital allowances - articles

Features and articles from ICAEW related to capital allowances within the UK tax regime.

Displaying 1-30 of 45 results
INSIGHTS VIEWPOINT HMRC provides further guidance on FHL abolition
  • Nov 2024
  • ICAEW Insights
HMRC has published guidance to clarify issues raised during the consultation on the draft legislation to abolish tax rules for furnished holiday lets (FHLs).
Exclusive FARMING AND RURAL BUSINESS COMMUNITY More Budget news
  • Nov 2024
  • Farming & Rural Business Community advisory group
  • Farming and Rural Business Community News
Behind the main Budget announcements, a few other matters of rural interest can be found.
Exclusive FARMING AND RURAL BUSINESS COMMUNITY Furnished holiday let reform – the last gasp from the March 2024 Budget!
  • Nov 2024
  • David Missen
  • Farming and Rural Business Community News
The recently published details of forthcoming reforms to the tax treatment of Furnished Holiday Lettings (FHL) income, which were initially announced in the 2024 Budget but omitted from the Finance Bill, signal significant changes effective from the end of the 2024/5 tax year. These reforms, which were announced on 30 July, were confirmed as part of the 2024 Budget package.
Exclusive FARMING AND RURAL BUSINESS COMMUNITY Renewable energy – wind turbines
  • Nov 2024
  • Daniel Sharpe
  • Farming and Rural Business Community News
Solar panels have dominated the renewable energy sector for many agricultural clients, often utilising unused roof space to provide clean and lower cost energy. This has been of particular importance in recent years with the large rise in energy costs, especially when farm buildings can be energy intensive. Energy storage can be expensive or not possible, meaning the peak energy generation often doesn’t align with the demands of the farm, such as for running cold stores over winter and spring. Wind turbines could be the solution.
INSIGHTS VIEWPOINT Government publishes its plans for corporation tax
  • Oct 2024
  • ICAEW Insights
The government has set out its intentions for corporation tax for the next five years, delivering on its commitment to publish a business tax roadmap at the Autumn Budget.
INSIGHTS VIEWPOINT ICAEW helps improve HMRC’s capital allowances guidance
  • Oct 2024
  • ICAEW Insights
Following a meeting at which HMRC set out seven areas of the capital allowances regime where its guidance could be improved, ICAEW has provided written comments on those areas and on the guidance generally.
Exclusive TAX FACULTY Why special tax sites really are special
  • May 2024
  • ICAEW
  • Taxline
Enhanced capital allowances may be claimed where qualifying expenditure is incurred in freeports and investment zones. Bryan Crawford looks at the conditions for making a claim and explains how businesses can benefit from the reliefs.
A lowdown on full expensing for SMEs
  • May 2024
  • ICAEW
Announced as a permanent capital allowance in the 2023 Autumn Statement, full expensing is a boon for companies investing in capital assets. Here, we examine the details of the new allowance and how to compile a claim.
Exclusive TAX FACULTY Basis period reform begins to bite
  • Apr 2024
  • ICAEW
  • Taxline
Financial year 2023/24 is important in the move from basis periods to the tax year basis for unincorporated businesses. Richard Jones looks at how to approach the change.
INSIGHTS VIEWPOINT Chancellor abolishes furnished holiday lets treatment and announces stamp duty land tax changes
  • Mar 2024
  • ICAEW Insights
From April 2025, taxpayers will no longer be able to treat their property business as a furnished holiday let (FHL). Stamp duty land tax multiple dwelling relief (SDLT MDR) will be abolished from 1 June 2024.
FACULTIES ONLINE TAX FACULTY TAX NEWS HMRC u-turns on double cab pickups
  • Feb 2024
  • ICAEW
HMRC will continue to treat double cab pickups as goods vehicles for the purposes of the BIK and capital allowances rules.
FACULTIES ONLINE TAX FACULTY TAX NEWS HMRC prompts companies to review AIA claims
  • Feb 2024
  • ICAEW
HMRC has written to companies that may need to share their AIA with fellow group members and related companies.
CONSTRUCTION AND REAL ESTATE COMMUNITY The true meaning of ‘plant’: some core capital allowance issues
  • Feb 2024
  • Ray Chidell
We consider the recent tribunal cases of Gunfleet and Acorn Venture, which have shed new light on some core capital allowance issues. From the Chartered Institute of Taxation.
Exclusive TAX FACULTY Camping pods and capital allowances
  • Feb 2024
  • ICAEW
  • Taxline
What is a building for capital allowances purposes? This was the question in a recent tax case concerning camping pods, as Stephen Relf discovers.
Exclusive TAX FACULTY Changes to the cash basis for traders
  • Feb 2024
  • Richard Jones
  • Taxline
Richard Jones considers the changes provided for by Finance Bill 2023-24 to the cash basis for trades subject to income tax.
FACULTIES ONLINE TAX FACULTY TAX NEWS HMRC clarifies capital allowances rules for partnerships
  • Jan 2024
  • ICAEW
HMRC has updated its guidance to make it clear that a partnership which includes a corporate member may claim capital allowances generally restricted to companies. These include the super deduction and full expensing.
Exclusive CONSTRUCTION AND REAL ESTATE COMMUNITY Emerging opportunities and pitfalls in real estate tax
  • Nov 2023
  • Karl Leesi
Guy Richardson and Mark Fielden, from the real estate and construction team at Moore Kingston Smith, recently presented an ICAEW webinar on “Emerging opportunities and current pitfalls in the tax regime for property investment and trading”. In this article we want to accentuate some of the practical tax complexities discussed in the webinar. Subsequently, in light of the Chancellor of the Exchequer’s recent Autumn Statement on 22 November 2023, we want to explore how current tax policy continues to create uncertainty in the real estate and construction sector.
FACULTIES ONLINE TAX FACULTY TAX NEWS Chancellor confirms full expensing will be permanent
  • Nov 2023
  • ICAEW
The full expensing regime will not expire on 31 March 2026 and will be made permanent, the Chancellor announced at the Autumn Statement on 22 November 2023.
FACULTIES ONLINE TAX FACULTY TAX NEWS Investment zones and freeports – similarities and differences
  • Sep 2023
  • ICAEW
Investment zones were refocused at the Spring Budget 2023. They are intended to grow the economy by focusing on places with significant unmet productivity potential and building on their existing strengths. How do they compare to freeports?
Exclusive TAX FACULTY Buying commercial property from non-taxpayers
  • Sep 2023
  • Bryan Crawford
  • Taxline
Bryan Crawford considers the capital allowances actions that advisers should be taking when advising non-taxpaying sellers or buyers of commercial property.
FACULTIES ONLINE TAX FACULTY TAX NEWS Key measures in Spring Finance Bill 2023
  • Mar 2023
  • ICAEW
The Finance (No. 2) Bill 2022/23 includes Spring Budget announcements such as the full expensing first-year capital allowance, abolition of the pension lifetime allowance charge and investment zones.
FACULTIES ONLINE TAX FACULTY TAX NEWS Budget for growth: ICAEW's Tax Faculty assesses key tax measures
  • Mar 2023
  • ICAEW
ICAEW’s Tax Faculty summarises the key tax announcements from the Chancellor’s Budget speech, including pension and capital allowance reforms.
Exclusive TAX FACULTY FACULTIES ONLINE Business tax strategy amid uncertain fiscal policy
  • Dec 2022
  • Angela Clegg
  • Taxline
Angela Clegg examines practical steps for managing the uncertainty within the tax policy environment, including remuneration for owner-managers, the return of close investment-holding companies, the annual investment allowance and the end of the super deduction.
Exclusive PRACTICE DEPARTMENT Practice Live 2022: Tax Update
  • Nov 2022
  • ICAEW
Rebecca Benneyworth delivered a tax update at Practice Live 2022 covering key topics.
FACULTIES ONLINE TAX FACULTY TAX NEWS Growth Plan 2022: 19% CT rate and £1m AIA from April 2023
  • Sep 2022
  • ICAEW
Chancellor Kwasi Kwarteng confirms that the corporate tax rate increase in April 2023 will be cancelled and that the temporary £1m annual investment allowance limit will become permanent.
FACULTIES ONLINE TAX FACULTY TAX NEWS Growth Plan 2022: investment zones
  • Sep 2022
  • ICAEW
The government announced that it will introduce investment zones across the UK as part of its plan for growth. Investment zones will benefit from tax incentives, planning liberalisation and wider support for the local economy.
FACULTIES ONLINE TAX FACULTY TAX NEWS Mini-budget: tax changes in full
  • Sep 2022
  • ICAEW
The Chancellor took some big swings when it came to tax in his mini-Budget.
Exclusive FARMING AND RURAL BUSINESS COMMUNITY Capital allowance around buying a farm
  • Aug 2022
  • Julie Butler & Jennie Helm
  • Farming and Rural Business Community News
The current value of farms is high despite low profits and uncertainty. At the time of writing, demand for farms exceeds supply and there are a larger number of buyers who are new to farming coming into the market. Purchasing a farm can give rise to many tax reliefs and it is essential that these are maximised from every perspective and be tailor-made to the buyer. Capital allowances planning is often overlooked or even dismissed as too tedious.
TAX FACULTY FACULTIES ONLINE Capital allowances – where do we go from here?
  • Jul 2022
  • Paul Vohmann and Richard Jones
  • Taxline
Paul Vohmann and Richard Jones set out ideas for incentivising capital investment.
FACULTIES ONLINE TAX FACULTY TAX NEWS ICAEW calls for more innovative thinking on capital allowances reform
  • Jul 2022
  • ICAEW
In its response to HM Treasury’s policy paper on options for reforming plant and machinery allowances, ICAEW’s Tax Faculty sets out ideas to make the regime more targeted and to help the government meet its other policy objectives.
Displaying 1-30 of 45 results
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