Following a recent application through Innovate UK Veritas Advisory, together with Brunel University London, are developing AI-assisted technology to aid SMEs to more efficiently collect and categorise data for tax assessment and tax relief. To find out more click here
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New Case Law – Potato Store is Plant
JRO Griffiths Limited v The Commissioners for Her Majesty’s Revenue and Customs [2021] UKFTT 257 (TC) resulted in the taxpayer winning their appeal in whether or not a warehouse used to store potatoes for a crisp manufacturer is plant. The taxpayer won on 2 counts.
Estates Gazette Article – Capitalise on Allowances
Veritas Advisory Director Nolan Masters, together with Alex Barnes a Partner at BDB Pitmans LLP, have published an article in Estates Gazette on how capital allowances claims can mitigate the increasing cost of tax on property investment.
New Case Law – Satellites
A Capital Allowances case Inmarsat Global Limited and The Commissioners for Her Majesty’s Revenue and Customs UT/2019/0167 V), has been refused by the Upper Tier Tribunal, in relation to the launch of satellites.
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New Case Law – Potato Store is Plant
07 Aug 2021
JRO Griffiths Limited v The Commissioners for Her Majesty’s Revenue and Customs [2021] UKFTT 257 (TC) resulted in the taxpayer winning their appeal in whether or not a warehouse used to store potatoes for a crisp manufacturer is plant. The taxpayer won on 2 counts.
Estates Gazette Article – Capitalise on Allowances
20 Jul 2021
Veritas Advisory Director Nolan Masters, together with Alex Barnes a Partner at BDB Pitmans LLP, have published an article in Estates Gazette on how capital allowances claims can mitigate the increasing cost of tax on property investment.
New Case Law – Satellites
16 Jul 2021
A Capital Allowances case Inmarsat Global Limited and The Commissioners for Her Majesty’s Revenue and Customs UT/2019/0167 V), has been refused by the Upper Tier Tribunal, in relation to the launch of satellites.
Taxation Magazine Article – The New Super Deduction
04 Jul 2021
In the June edition of Taxation Magazine Veritas Advisory Director Nolan Masters set out how the new super deduction and special rate allowances will affect property owners, occupiers and investors. Click here to read the article in full
New Case Law – Gas Storage
25 Apr 2021
A case Cheshire Cavity Storage 1 Limited and (2) EDF Energy (Gas Storage Hole House) Limited v The Commissioners for HM Revenue and Customshas been determined at the Upper Tax Tribunal (UTT). Does a cavity formed to store gas satisfy the requirements to be allowed as plant?
Short on Time? Super Deductions in Brief
20 Apr 2021
For those short on time, we have provided a bullet point summary of the key points, who can claim and considerations when claiming.
Are Property Investors Invited to the ‘Super-Deduction’ Party?
20 Apr 2021
The fanfare surrounding the announced ‘super-deductions’ was somewhat soured for property investors, in reading of a restriction on ‘leased’ plant and machinery. Here we set out why for some investors, there is still a way to benefit from these generous temporary tax reliefs.
Claiming Super Deductions – Benefit & Restrictions
20 Apr 2021
In an unexpected offer of generosity, as part of the Chancellor’s spring budget, temporary ‘super’ capital allowances were announced with a view to kick start the post covid recovery. Here we set out the requirements for making a claim and the benefit on offer.
Veritas in AI Collaboration with Brunel University
30 Mar 2021
Following a recent application through Innovate UK Veritas Advisory, together with Brunel University London, are developing AI-assisted technology to aid SMEs to more efficiently collect and categorise data for tax assessment and tax relief